PP Ltd acquired 65% of the ordinary share capital of QQ Ltd on 1 January 2023. There
Question:
PP Ltd acquired 65% of the ordinary share capital of QQ Ltd on 1 January 2023. There are no preference shares. The statements of comprehensive income of the two companies for the year to 31 December 2023 are as follows:
Required:Prepare a consolidated statement of comprehensive income for the year to 31 December 2023.
Transcribed Image Text:
Sales revenue Cost of sales Gross profit Operating expenses Profit before tax Taxation expense Profit for the year PP Ltd £ 345,450 125,700 219,750 56,330 163,420 32,000 131,420 QQ Ltd £ 186,350 71,990 114,360 37,800 76,560 14,660 61.900
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Sales revenue 345450 186350 Cost of sales 125700 71990 Gross p...View the full answer
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Related Book For
International Financial Reporting a practical guide
ISBN: 9781292439426
8th Edition
Authors: Alan Melville
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