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Tutorial 4 Belt Group Consolidated Statement of Comprehensive Income For The Year Ended 31 December 2015
Tutorial 4 Belt Group Consolidated Statement of Comprehensive Income For The Year Ended 31 December 2015
Question 3
Belt Group
Consolidated Statement of Comprehensive Income for the year ended 31 Decembe
Revenue [3,000 + (1,400 * 9/12)]
Cost of sales [1,980 + (800*9/12)]
Gross Profit
W2 Operating costs [528 + (300*9/12)]
Loss on disposal of subsidiary
Share of profit of associate (190*3/12*30%)
Profit before tax
Tax [205 + (110*9/12)]
Profit after tax
Profit attributable to:
Owners of the parent [287 + (190*9/12*80%) - 50 + 14]
NCI (190*9/12*20)
Belt Group
Consolidated Statement of Financial Position as at 31 December 2015
Property plant and equipment
W4 Investment in associate
Inventory
Receivables
Cash (141 + 206)
$1 ordinary shares
W3 Retained Earnings
Payables
Proceeds of sale of shares
W1
364
29
393
$000
100
70
Gain/(loss) on disposal
$000
FV of consideration received
FV of investment retained
mber 2015
$000
580
184
215
290
347
1,616
Goodwill
Consideration transferred
NCI (20%*170)
W3
Retained Earnings
Belt
$000
690
690
Share of post acquisition RE of Braces
up to date of disposal (333*80%)
Share of PAT (47*30%)
Loss on disposal of subsidiary (W2)
W4
Investment in Associate
FV of retained interest
Share of PAT (190*3/12*30%)
266
14
(50)
920
$000
170
14
184
$000
160
34
194
(170)
24
(24)
0
$000
206
170
376
(426)
(50)
80%
30%
Braces
Braces
$000
$000
403
450
[450-(190*3/12)]
(70)
333
(403)
47