Page 258 - FR Integrated Workbook 2018-19

Chapter 18

Example 2 cont.

Solution
Lobster Group statement of profit or loss for the year ended
31 December 20X5
$
Revenue 200,000
Cost of sales (93,050)
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Gross profit 106,950
Operating expenses (40,500)
Finance costs (7,350)
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Profit before tax 59,100
Income tax expense (14,400)
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Profit for the year 44,700
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Profit for the year is attributable to:
Owners of parent (balancing figure) 44,025
Non-controlling interest 675
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44,700
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(W1) PUP
$10,000 × 60% × 30% 1,800
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(W2) Fair value depreciation
1 9
$15,000 × / 5 × / 12 2,250
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(W3) NCI
9
Crab profit for the year: 13,000 × / 12 9,750
PUP (W1) (1,800)
Fair value depreciation (W2) (2,250)
Impairment (3,000)
–––––––
Adjusted profit for the year 2,700 × 25% = 675
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