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Flashcards in 4 Deck (5)
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1

Share of profit of associate line

Profit for the yr x % x n/12
less PURP (P's % of profit, A->P)
less imp for the yr

2

PURP: selling assets

1) CA x (n-1)/n
2) SP x (n-1)/n
3) diff in depn = 1) - 2)
4) take to consol RE + P/L exp
n=useful life

3

PURP: A->P

Dr P's RE/ Share of profit of assoc
Cr Group Inventory
GROUP % ONLY

4

PURP: P->A

Dr P's RE/ CoS of P
Cr Investment in assoc
GROUP % ONLY

5

PURP: Sub

Dr Seller's RE/CoS
Cr Inventory