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Following are the statement of profit or loss for Pizam and Plutka for the year ending 31 December 2016. 
 

  Pizam Plutka
Revenue 50000 20000
COGS -33500 -9750
  _________ _________
Gross profit 16500 10250
Distribution cost -5280 -1830
Admin expense -6234 -5324
    _________   _________
Profit before interest and tax   4986 3096
Interest expense -300 -100
Tax  -400 -50
  _________ _________
Profit for the period 4286 2946

(i) Pizam acquired 70% of Plutka on 1 July 2016 for $56,000 when the net asset of the company was $60,000 and the fair value of NCI was $12,000. Goodwill arising on acquisition of Java is impaired by 10%.

(ii) During the post acquisition period Pizam sold goods to Plutka for $2,000, which had cost of $800. Plutka retains 40% of these goods in the inventory on 31 December 2016. 

(iii) Profit or loss incurred evenly throughout the year. 

Requirements:

Prepare the consolidated statement of profit or loss for Pizam group for the year ending 31 December 2016

Marks: 8

Answers submitted

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Runa Akter's picture
Runa Akter
11/05/2020 - 15:17

9076
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Kamrul Hasan's picture
Kamrul Hasan
09/05/2020 - 20:40

9626
8
Kamrul Hasan's picture
Kamrul Hasan
09/01/2020 - 21:07

9572
8
Kamrul Hasan's picture
Kamrul Hasan
08/25/2020 - 17:48

9524
8
Kamrul Hasan's picture
Kamrul Hasan
08/19/2020 - 12:33

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Kamrul Hasan's picture
Kamrul Hasan
08/17/2020 - 12:23

9412
8
Kamrul Hasan's picture
Kamrul Hasan
08/16/2020 - 10:33

9406
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MD. Ohidur Rahman's picture
MD. Ohidur Rahman
03/07/2020 - 13:54

9074
4 / 8
MD. Fahim Khan's picture
MD. Fahim Khan
03/03/2020 - 13:26

8990
8
mohammad merazul islam's picture
mohammad merazu...
03/03/2020 - 15:09

8998
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Sajjad Hosen Pavel's picture
Sajjad Hosen Pavel
03/03/2020 - 03:26

8986
5 / 8
Albina Anowar's picture
Albina Anowar
02/15/2020 - 22:52

8608
6 / 8
Md Kamrul Islam's picture
Md Kamrul Islam
12/04/2019 - 20:46

8392
8
Pronob Kumer Shill's picture
Pronob Kumer Shill
11/26/2019 - 22:18

8196
7 / 8
Rumpa Haque Sharkar's picture
Rumpa Haque Sharkar
10/19/2019 - 12:07

7586
5 / 8
Rumpa Haque Sharkar's picture
Rumpa Haque Sharkar
10/18/2019 - 21:23

7582
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Rumpa Haque Sharkar's picture
Rumpa Haque Sharkar
10/17/2019 - 14:00

7578
4 / 8