4 Flashcards
(5 cards)
1
Q
Share of profit of associate line
A
Profit for the yr x % x n/12
less PURP (P’s % of profit, A->P)
less imp for the yr
2
Q
PURP: selling assets
A
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
Q
PURP: A->P
A
Dr P’s RE/ Share of profit of assoc
Cr Group Inventory
GROUP % ONLY
4
Q
PURP: P->A
A
Dr P’s RE/ CoS of P
Cr Investment in assoc
GROUP % ONLY
5
Q
PURP: Sub
A
Dr Seller’s RE/CoS
Cr Inventory
