Financial Accounting Assignment Homework Help Online
- August 9, 2017
- Posted by:
- Category: Accounting QA
Best UK USA UAE Australia Canada China Financial Accounting Assignment Homework Help Online Service Online
STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE 2012 | ||
P LTD | S LTD | |
ASSETS | ||
Fixed property | 70 000 | 48 500 |
Plant | 6 400 | 5 000 |
Gross carrying amount | 10 000 | 12 500 |
Accumulated depreciation | (3 600) | (7 500) |
Furniture | 2 500 | 1 500 |
Gross carrying amount | 5 000 | 5 000 |
Accumulated depreciation | (2 500) | (3 500) |
Investment in S Ltd at fair value:37 500 shares (cost: $52 500) | 52 500 | – |
Investment in unlisted shares | – | 12 500 |
Current account: S Ltd | 10 000 | – |
Trade receivables | 22 500 | 11 500 |
Inventories | 8 000 | 14 000 |
Bank | 26 925 | 31 875 |
Total assets | 198 825 | 124 875 |
EQUITY AND LIABILITIES | ||
Share capital (100 000/50 000 shares) | 100 000 | 50 000 |
Retained earnings | 77 325 | 49 000 |
Current account: P Ltd | – | 4 375 |
Dividend payable | 5 000 | 7 500 |
Trade & other payables | 16 500 | 14 000 |
Total equity and liabilities | 198 825 | 124 875 |
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2012 | ||
P LTD | S LTD | |
Revenue | 100 000 | 75 000 |
Cost of sales | (55 000) | (55 000) |
Gross profit | 45 000 | 20 000 |
Other expenses | (15 075) | (4 525) |
Dividend received | 5 625 | 500 |
Interest received | 2 400 | |
Profit before tax | 37 950 | 15 975 |
Income tax expense | (10 625) | (4 475) |
PROFIT FOR THE YEAR | 27 325 | 11 500 |
Other comprehensive income for the year | – | – |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 27 325 | 11 500 |
EXTRACT FROM THE STATEMENTS OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2012 | ||
P LTD | S LTD | |
Balance at 1 July 2011 | 60 000 | 45 000 |
Changes in equity for 2012 | ||
Total comprehensive income for the year: | ||
Profit for the year | 27 325 | 11 500 |
Ordinary dividend paid and provided | (10 000) | (7 500) |
Balance at 30 June 2012 | 77 325 | 49 000 |
Additional information
1. P Ltd acquired the interest in S Ltd on 30 June 2009 when the equity of S Ltd was as follows
Share Capital $50 000
Retained earnings $17 500
2. On 1 January 2010, S Ltd sold non-depreciable fixed property with an original cost price of $25 000 to S Ltd for $28 500. The property is classified as property, plant and equipment and still in possession of S Ltd.
3. On 30 June 2011, S Ltd sold furniture that cost $6 250 and on which accumulated depreciation to the amount of $1 250 was recognized to P Ltd for $5 000. P Ltd classifies this furniture under property, plant and equipment.
4. S Ltd purchases all its inventories from P Ltd at cost price plus 25%. Total inventories to the value of $37 500 were sold to S Ltd by P Ltd during the reporting period. Inventories in the records of S Ltd were $12 500 on 1 July 2011. At the end of the reporting period, S Ltd owed P Ltd $11 500 in respect of the inventories purchased from P Ltd. These amounts are included in trade receivables and trade & other payables.
5. On 30 June 2010, S Ltd sold 2 machines with a carrying amount of $9 000 each to P Ltd for a total amount of $20 000. P Ltd uses the plant in the production of inventories. Both companies write off depreciation on plant at 20% per annum on the diminishing balance method. On 29 June 2012, P Ltd sold one of the machines at a slight profit that was set off against other expenses.
6. Assume that the identifiable assets acquired and the liabilities assumed at acquisition date are shown at their acquisition-date fair values, as determined in terms of IFRS 3.
7. P Ltd classified the equity investment in S Ltd under IFRS 9 in its separate financial statements and recognized fir value adjustments in a mark-to-market reserve (other comprehensive income).
8. P Ltd elected to measure any non-controlling interests in an acquiree at their proportional share of the acquiree’s identifiable net assets.
9. Ignore deferred tax implications
How it Works?
How it Works?
Step 1:- Want to buy solution for this. Please click on submit your assignment here and then fill all details and please mentioned product code at the end of the case. Product code is extremely important to locate your assignment. You can also mail us by keeping product code as mail subject to besthomewrokhelpers@gmail.com
Step 2:- As soon as we received your details, we will inform you with through email about quotations of the given assignment. Requesting you to please mention your budget. Also ensure our email besthomeworkhelpers@gmail.com should not go into your spam folder.
Step 3:- Once you agree with our price, click on pay now and pay the agreed amount and once we received the payment assignment will be delivered before agreed deadline.
Step 4:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.
Features
Our Features for Assignment Help Services
Plagiarism Free Solution
The first and foremost things that we promise to our customer is plagiarism free solution i.e. a complete and unique solution as per customer’s university requirements.
Excellent Customer Care Services
You can feel our responsiveness once you use our service. Our team of excellent and dedicated customer service representatives are always ready to provide best customer care service 24X7 . Just drop a mail to besthomeworkhelpers@gmail.com and you can receive response in just no time.
Multiple Stage Quality Assurance
We design a unique multiple stage quality assurance team to ensure plagiarism free, original, relevant and as per customer’s requirements. We not only give importance to accurate solutions or writing but also we give equal importance to references style too.
Privacy and Confidentiality
We believe in maintaining complete privacy and confidentiality of all our clients. None of the information furnished to us is shared with anyone else.
Our Clients
We receive requests from clients all over the World. Most of our customers are from USA, UK, Australia, Canada, UAE, Muscat, Oman, Qatar, UAE, New-Zealand, France Germany etc.
Related Services
- Accounting Homework Help
- Accounting Assignment Help
- Computer Science Homework Help
- Management Homework Help
- Finance Assignment Help
- Online Essay Writing Help
- Strategic management case study help
- Case Study Assignment Help
- Dissertation Writing Help
- Trade finance case study help
- Project Management Assignment Help
- Mechanical Engineering Homework Help
- Online Quiz Help
- Maths homework Help
- Online Exam Help
- Economics Assignment Help
- Economics Homework Help
- English Homework Help
- Macroeconomics Homework Help
- Microeconomics Homework Help
- Statistics Assignment Help
- Australia Taxation Homework Help
- Supply chain management homework help
- Taxation homework help
- USA taxation assignment help
- Advanced accounting homework help online
- Auditing homework writing help
- Human resource management homework help
- Nursing homework help online
- Psychology homework help online
- Sociology homework help online
- Ratio analysis homework help online
- Strategic Management Homework Help Online
- Mba operations management homework help
- Human resource management homework help
- Operations management homework help
Required
Prepare the following consolidated statements for the P Ltd Group for the reporting period ended 30 June 2012.
1. Consolidated statement of financial position
2. Consolidated statement of changes in equity
3. Analysis of owner’s equity
Product Code: ACC243
Looking for Financial Accounting Assignment Homework Help Online , please submit your details here with product code mentioned above.