Consolidated Statements - adjustments SPL

Question 1

Adjustments made for:

Answer 1

Intragroup items

NCI

intragroup sales and purchases are always eliminated at the sales value

Dr Revenue
Cr Cos

Question 2

If items remain in stock - PUP Adjustment

Answer 2

Dr Cost of sales (in the selling company)
Cr Inventory

Question 3

NCI (PUP adjustment)

Answer 3

If sub sells to parent and makes a profit

Sub profit for the year (after pup adjustment) x non-controlling interest