ON 01/01/X6 SUN acquires 80% of R 100 000 ordinary R1 shares in MOON. during the 20x6 financial year MOON sold goods to SUN at a sales price of R 30 000 including a mark up 25 % however by the end of the year only 50 % of these goods had been sold to third party customers. if MOON profit after tax for the financial year ending 31/12/x6 was 52 000 and an extra depreciation charge of R 1 900 in relation to a fair value adjustment was also required

calculate the profit for the year attributable to the NCI in the group consolidated income statement.

9 420

9 240

9 400

company A supply goods to contracted quantity of goods to company B. company A will be required to pay a penalty fee totaling 20 % of the contacted value of R 1 000 000. this is despite the fact that A has a 100% record of delivering on similar contracts historically. which of the following statement are correct in relation to the account treatment of the penalty payment for this contract in the current financial year?

company A should recognize a contingent liability R200 000 in relation to this contract.

company A will not need to recognize a provision or disclose a contingent asset or liability in relation to the contract

company A should recognize a provision of R 200 000 in relation to this contract