The following extracts relate to Pan and its wholly owned subsidiary Skillet: Statement of Financial Performance Revenue Cost of sales Statement of Financial Position Inventory The consolidated revenue figure is: Select one: Pan a. 2,144,000 b. 2,124,000 c. 2,114,000 d. 2,104,000 e. 2,134,000 1,196,000 888,000 168,000 Skillet 928,000 670,000 During the year the following transactions took place: • Pan's sales to Skillet 20,000. • 60% of these sales are still in inventory at balance date. • Pan makes 10% profit on sales (i.e., profit = 10% of the given sales figure). • There is no intra-group profit on opening inventory. 36,000

The following extracts relate to Pan and its wholly owned subsidiary Skillet: Statement of Financial Performance Revenue Cost of sales Statement of Financial Position Inventory The consolidated revenue figure is: Select one: Pan a. 2,144,000 b. 2,124,000 c. 2,114,000 d. 2,104,000 e. 2,134,000 1,196,000 888,000 168,000 Skillet 928,000 670,000 During the year the following transactions took place: • Pan's sales to Skillet 20,000. • 60% of these sales are still in inventory at balance date. • Pan makes 10% profit on sales (i.e., profit = 10% of the given sales figure). • There is no intra-group profit on opening inventory. 36,000

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 26E: Comprehensive income Anson Industries, Inc., reported the following information on its 20Y1 income...

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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

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The following extracts relate to Pan and its wholly owned subsidiary Skillet:
Statement of Financial Performance
Revenue
Cost of sales
Statement of Financial Position
Inventory
Pan
The consolidated revenue figure is:
Select one:
a. 2,144,000
b. 2,124,000
c. 2,114,000
d. 2,104,000
e. 2,134,000
1,196,000
888,000
168,000
Skillet
928,000
670,000
36,000
During the year the following transactions took place:
• Pan's sales to Skillet 20,000.
• 60% of these sales are still in inventory at balance date.
• Pan makes 10% profit on sales (i.e., profit = 10% of the given sales figure).
• There is no intra-group profit on opening inventory.

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