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

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.1E

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