Dobby Plc owns 80% of the issued share capital of Fred Ltd. Fred Ltd reported a net profit after tax of €25 million for the year. During the year Fred Ltd sold goods to Dobby Plc for €7.5 million at cost plus 25% and Dobby Plc has sold 25% of these goods for €2 million before the year end. What is the amount of profit attributable to the non-controlling interest in the Consolidated Statement of Comprehensive Income for that year? €6 million Ob. €3.5 million O c. €5 million O d. €4.78 million
Dobby Plc owns 80% of the issued share capital of Fred Ltd. Fred Ltd reported a net profit after tax of €25 million for the year. During the year Fred Ltd sold goods to Dobby Plc for €7.5 million at cost plus 25% and Dobby Plc has sold 25% of these goods for €2 million before the year end. What is the amount of profit attributable to the non-controlling interest in the Consolidated Statement of Comprehensive Income for that year? €6 million Ob. €3.5 million O c. €5 million O d. €4.78 million
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Dobby Plc owns 80% of the issued share capital of Fred Ltd. Fred Ltd reported a net profit after tax of €25 million
for the year. During the year Fred Ltd sold goods to Dobby Plc for €7.5 million at cost plus 25% and Dobby Plc
has sold 25% of these goods for €2 million before the year end.
What is the amount of profit attributable to the non-controlling interest in the Consolidated Statement of
Comprehensive Income for that year?
O a. €6 million
€3.5 million
Oc €5 million
O d. €4.78 million
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