FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

S Ltd is a wholly owned subsidiary of H Ltd which manufactures motor vehicles. During the year ended 31st December 2017 H Ltd sold motor

S Ltd is a wholly owned subsidiary of H Ltd which manufactures motor vehicles. During the year ended 31st December 2017 H Ltd sold motor vehicles costing Sh. 2 000 000 at a price of Sh. 2 400 000 to S Ltd. The motor vehicles have a useful life of 5 years

Required: Show the adjustment to be made in the Consolidated Income Statement

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Routledge Handbook Of Environmental Accounting

Routledge Handbook Of Environmental Accounting

Authors: Jan Bebbington, Carlos Larrinaga, Brendan O'Dwyer, Ian Thomson

1st Edition

0367724901, 9780367724900

More Books

Students also viewed these Accounting questions

Question

★★★★★
a. Fill the blanks in the table below for a quarterly comparison of sectors with the S&P 500 Index (see the box on page 581). b. Did the portfolio manger under- or over perform the S&P 500? c. Which...

Answered: 1 week ago

Question

★★★★★
6-25. Distinguish between an applicant-tracking system and candidate relationship management

Answered: 1 week ago

Question

★★★★★
2. Knowing the importance of metacognition, Joanna Pappas decided she would try to focus her young students attention on their own thinking skills. Joanna knew by having her students think about...

Answered: 1 week ago

Question

★★★★★
Medistar is a real estate development company specializing in the development of medical facilities. Dr. Schmidt, the team physician for the San Antonio Spurs basketball team, sought to develop The...

Answered: 1 week ago

Question

★★★★★
Required Information (The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. The Company uses...

Answered: 1 week ago

Question

★★★★★
For quite a while the United States Government has been collecting student loan debt from Social Security benefits of retirees because of a decision by the Supreme Court of the United States. The...

Answered: 1 week ago

Question

★★★★★
2. (34%) The frame is subjected to a vertical 13 kip force at E and a horizontal 10 kip force a B. Neglect the self-weight of the frame. Find the internal forces (axial, shear, and bending moment) at...

Answered: 1 week ago

Question

★★★★★
Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November 1-14 pay period show that employees earned wages totaling $70,000 but that...

Answered: 1 week ago

Question

★★★★★
Bob and Marcus are buying a house. They have $22000 for a down payment. The house price is $176000. They have secured a 25 year loan with an annual interest rate of 4.3% compounded monthly, Use Excel...

Answered: 1 week ago

Question

★★★★★
The pin-connected structure consists of two cold-rolled steel [E-26,000 ksil bars (1) and a bronze [E 12,000 ksi) bar (2) that are connected at pin D. Each steel bar has a cross-sectional area of...

Answered: 1 week ago

Question

★★★★★
Use the Dividend Discount Model to calculate the intrinsic value for Pepsi (PEP). Explain your assumptions for the discount rate and the expected dividend growth rate. Use the expected dividend...

Answered: 1 week ago

Question

★★★★★
=+4. Do you eat Ben & Jerrys ice-cream? If yes, why do you buy this brand? If no, are you now more likely to do so?

Answered: 1 week ago

Question

★★★★★
=+5. Look at some of the causes that Ben & Jerrys promotes at: http://www.benjerry.com/activism/inside-the-pint/. Do you agree with a firm adopting such blatant social causes? Do you agree with the...

Answered: 1 week ago

Question

★★★★★
=+3. Do you think Ben & Jerrys does a good job of interacting with its stakeholders and presenting its stakeholder approach on its Web site? Did Unilevers assurances that this approach would not...

Answered: 1 week ago

Previous Question Next Question