Several years ago, Sa Co purchased 80% of Su Co's equity share capital. Sa Co made a profit after tax of $120,000 in the fiscal year ending December 31, 20X4, and Su Co made a profit after tax of $35,000. Su Co sold goods to sa Co for $40,000 during the year. The profit mark-up was 40% on the sales price. 25% of these goods were still in Sa Co's inventory on December 31, 20X4. What profit is attributable to the parent company in the consolidated statement of profit or loss of the Sa Group for the year to 31 December 20X4?
Several years ago, Sa Co purchased 80% of Su Co's equity share capital. Sa Co made a profit after tax of $120,000 in the fiscal year ending December 31, 20X4, and Su Co made a profit after tax of $35,000. Su Co sold goods to sa Co for $40,000 during the year. The profit mark-up was 40% on the sales price. 25% of these goods were still in Sa Co's inventory on December 31, 20X4. What profit is attributable to the parent company in the consolidated statement of profit or loss of the Sa Group for the year to 31 December 20X4?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Several years ago, Sa Co purchased 80% of Su Co's equity share capital. Sa Co made a profit after tax of $120,000 in the fiscal year ending December 31, 20X4, and Su Co made a profit after tax of $35,000. Su Co sold
goods to Sa Co for $40,000 during the year. The profit mark - up was 40% on the sales price. 25% of these goods were still in Sa Co's inventory on December 31, 20X4. What profit is attributable to the parent company in
the consolidated statement of profit or loss of the Sa Group for the year to 31 December 20X4?
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