Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 4 Given below are the consolidated income statements of Astro Bhd, Bistro Bhd and Jitro Bhd for the year ended 31 December 2019. Turnover
Question 4 Given below are the consolidated income statements of Astro Bhd, Bistro Bhd and Jitro Bhd for the year ended 31 December 2019. Turnover Cost of Sales Gross Profit Expenses Dividend from Bistro Bhd Bistro Bhd RM 25,000 (17,000) 8.000 (3,400) Jitro Bhd RM 20,000 (15,000) 5,000 (2,000) Asro Bhd RM 30,000 (18,000) 12,000 (4,000) 400 400 500 9,300 (3,000) 6,300 (300) 6,000 Other income Profit before tax Tax Profit after tax Dividend paid 200 4,800 (1,000) 3,800 (800) 3,000 200 3,200 (1,000) 2,200 (200) 2,000 Additional Information: . Astro Bhd acquired 80% of the issued share share capital of Bistro Bhd on 1 January 2019 when the retained profit balance of Bistro Bhd was RM1,000,000. On 1 January 2019 Astro Bhd acquired 4million out of the issued 10million ordinary share of Jitro Bhd for RM6,000,000. Astro Bhd has joint control over Jitro Bhd. Required: Prepare the Consolidated Comprehensive Income Statement for the year ended 31 December 2019 using the proportionate consolidation method. (10 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started