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XX acquires 80% of the share capital of LL on 1 August 2020 and is preparing its group financial statements for the year ended 31 December 2020. How will LL’s results be included in the group statement of profit or loss? A. 100% of LL’s revenue and expenses for the period ended 1 August 2020 to 31 December 2020 B. 80% of LL’s revenue and expenses for the year ended 31 December 2020 C. 100% of LL’s revenue and expenses for the year ended 31 December 2020 D. 80% of LL’s revenue and expenses for the period 1 August 2020 to 31 December 2020

XX acquires 80% of the share capital of LL on 1 August 2020 and is preparing its group financial statements for the year ended 31 December 2020. How will LL’s results be included in the group statement of profit or loss? A. 100% of LL’s revenue and expenses for the period ended 1 August 2020 to 31 December 2020 B. 80% of LL’s revenue and expenses for the year ended 31 December 2020 C. 100% of LL’s revenue and expenses for the year ended 31 December 2020 D. 80% of LL’s revenue and expenses for the period 1 August 2020 to 31 December 2020

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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XX acquires 80% of the share capital of LL on 1 August 2020 and is preparing its group financial statements for the year ended 31 December 2020.

How will LL’s results be included in the group statement of profit or loss?

A. 100% of LL’s revenue and expenses for the period ended 1 August 2020 to 31 December 2020
B. 80% of LL’s revenue and expenses for the year ended 31 December 2020
C. 100% of LL’s revenue and expenses for the year ended 31 December 2020
D. 80% of LL’s revenue and expenses for the period 1 August 2020 to 31 December 2020
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