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Boo acquired 80% of Goose's equity shares for $300,000 on 1 January 20X8. At the date of acquisition Goose had retained earnings of $190,000. On 31 December 20X8 Boo dispatched sold goods which cost $80,000 to Goose, at an invoiced value of $100,000.  The two companies' draft financial statements as at 31 December 20X8 are shown below.  

STATEMENTS OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOME 
FOR THE YEAR ENDED 31 DECEMBER 20X8

   
  Boo Goose
   $'000  $'000
Revenue  5,000  1,000
Cost of sales      2,900      600
Gross profit  2,100  400
Other expenses      1,700       320
Profit before tax  400  80
Income tax expense          130          30
Profit for the year   270   50
Other comprehensive income:    
     Gain on revaluation of property    20    –
Total comprehensive income for the year              290              50

     

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Requirements:

Prepare consolidated statement of profit or loss for the year ending 31 Dec 2008.

Marks: 10

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Runa Akter
11/04/2020 - 16:09

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Kamrul Hasan
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Kamrul Hasan
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Kamrul Hasan
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Kamrul Hasan
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Sajjad Hosen Pavel
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MD. Fahim Khan
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Sajjad Hosen Pavel
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Rumpa Haque Sharkar
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Lokonath Debnath
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Hassan Kanok Kanok
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Md Ishtiak Isty
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Md Kamrul Islam
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Pronob Kumer Shill
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Rumpa Haque Sharkar
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Saidur Rahman
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Ariful islam
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