Free Preparation Discussions
MENU
CIMA Exam CIMAPRA19-F01-1 Topic 3 Question 94 Discussion
Topic #: 3
The statement of profit or loss for PQ, ST and AB for the year ended 31 December 20X0 are shown below:
1. PQ acquired 80% of its subsidiary, ST, on 1 January 20X0 and 40% of its associate, AB, on 1 September 20X0.
2. Since acquistion PQ has sold goods to ST and AB for $20,000 and $30,000 respectively. At the year end both ST and AB have 50% of these goods remaining in inventory. PQ uses a mark-up of 20% on all of its sales.
3. Since acquisition the goodwill in respect of ST has been impaired by $8,000 and the investment in AB has been impaired by $2,000.
4. PQ uses the fair value method for non-controlling interest at acquisition.
What is the revenue figure to be included in PQ's consolidated statement of profit or loss for the year ended 31 December 20X0?
Carmelina
10 months agoWenona
10 months agoGladys
9 months agoMakeda
9 months agoAimee
10 months agoEvelynn
10 months agoJose
10 months agoPatria
9 months agoLizbeth
9 months agoJesusa
10 months agoWillow
9 months agoLettie
10 months agoJolene
10 months agoThurman
10 months agoDanica
11 months agoChauncey
9 months agoCecil
9 months agoDenny
10 months ago