AAT FINANCIAL STATEMENTS - Sample Assessment 2
sabina
Registered Posts: 28
Hi, can anyone help on task 1.6?
I cant figure out the total for cost of sales - where is 280 from?
I cant figure out the total for cost of sales - where is 280 from?
0
Comments
-
Hi,
Please see below workings.
Consolidated Revenue:
Danes Plc: £18,560
Winter Ltd: £9,350
Total Inter-company adj: -£350 (Simply get rid of the revenue made by Danes Plc)
Total Revenue: £27,560
Consolidated Cost of Sales:
Danes Plc: £12,346
Winter Ltd: £5,256
Total Inter-company adj: -£280 (£350 - £210 = £140 (Total Profit), Unrealised Profit = £140/2 = £70, take this away from the Buying price of Winter Ltd which is £350 giving you £350 - £70 = £280)
Total Cost of Sales: £17,322
Consolidated Other Income:
Danes Plc: £3,258
Winter Ltd: £1,158
Total Inter-company adj: -£320 (Dividends go into Retained Earnings not on the P&L)
Total Other Income: £4,096
Hope this helps.1 -
Thank you!
Do you know how the workings are done for equity holders of the parent and NCI?0 -
No problem.
I've answered the same question before, please follow link: https://forums.aat.org.uk/Forum/discussion/445175/financial-statements-paper-2-question-1-6b#latest0
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