6. Premier Co acquired 80% of Sanford Co on 1 June 20X1. Sales from Sanford Co to Premier Co throughout the year ended 30 September 20X1 were consistently $1 million per month. Sanford Co made a mark-up on cost of 25% on these sales. At 30 September 20X1 Premier Co was holding $2 million inventory that had been supplied by Sanford Co in the post-acquisition period.By how much will the unrealised profit decrease the profit attributable to the non-controlling interest for the year ended 30 September 20X1?
7. On 1 January 20X3 Westbridge Co acquired all of Brookfield Co's 100,000 $1 shares for $300,000. The goodwill acquired in the business combination was $40,000, of which 50% had been written off as impaired by 31 December 20X5. On 31 December 20X5 Westbridge Co sold all of Brookfield's shares for $450,000 when Brookfield had retained earnings of $185,000.What is the profit on disposal that should be included in the INDIVIDUAL ENTITY financial statements of Westbridge Co?
8. Harry acquired an 80% holding in Style on 1 April 20X6. From 1 April 20X6 to 31 December 20X6 Style sold goods to Harry for $4.3m at a mark‐up of 10% Harry's inventory at 31 December 20X6 included $2.2m of such inventory. The statements of profit or loss for each entity for the year to 31 December 20X6 showed the following in respect of cost of sales:
What is the cost of sales figure to be shown in the consolidated statement of profit or loss for the year to 31 December 20X6?
9. A acquired a 60% holding in B on 1 July 20X6. At this date, A gave B a $500,000 8% loan. The interest on the loan has been accounted for correctly in the individual financial statements. The totals for finance costs for the year to 31 December 20X6 in the individual financial statements are shown below.
What are consolidated finance costs for the year to 31 December 20X6?