The following data are drawn from ABC Company at 31/12/2020 Net income for the period Gains on revaluation surplus, net of tax Accounts Payable Cash Loss on translating financial statements, net of tax Non-controlling interests is 10% of comprehensive income Under IAS 1, the comprehensive income attributable to non-controlling interests is: Select one: O 0 O O a. All answers are false b. 1000 c. 4100 d. 41000 40000 4000 4000 3000 3000 10% e. 40000 f. 36900

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

8

051
The following data are drawn from ABC Company at 31/12/2020
Net income for the period
Gains on revaluation surplus, net of tax
Accounts Payable
Cash
Loss on translating financial statements, net of tax
Non-controlling interests is 10% of comprehensive income
Under IAS 1, the comprehensive income attributable to non-controlling interests is:
Select one:
000
6000
40000
4000
4000
3000
3000
10%
a. All answers are false
b. 1000
c. 4100
d. 41000
e. 40000
f. 36900
Fi
Transcribed Image Text:051 The following data are drawn from ABC Company at 31/12/2020 Net income for the period Gains on revaluation surplus, net of tax Accounts Payable Cash Loss on translating financial statements, net of tax Non-controlling interests is 10% of comprehensive income Under IAS 1, the comprehensive income attributable to non-controlling interests is: Select one: 000 6000 40000 4000 4000 3000 3000 10% a. All answers are false b. 1000 c. 4100 d. 41000 e. 40000 f. 36900 Fi
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Accounting Policies, Changes in Accounting Estimates and Errors
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education