Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Alpha acquired 85% of the voting shares in Beta. Their statements of income for the year ended 31 March 20x1 are rep Alpha Beta Revenue

image text in transcribed

Alpha acquired 85% of the voting shares in Beta. Their statements of income for the year ended 31 March 20x1 are rep Alpha Beta Revenue 345,600 247,500 Cost of sales 210,000 142,700 During the year Alpha has sold goods to Beta which had processed and received goods totalling 47,000. These had bee cost plus a third. By the year end, Beta has sold 38,000 and 4,000 was in transit from Alpha. What is the group gross profit to be reported in the consolidated statement of income? (only enter a number into the an without sign)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions