XX acquired 80% of the share capital of LL on 1 August 2020 and is preparing its group financial statements: Advanced accounting 2 Assignment, NTU, Singapore

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University Nanyang Technological University (NTU)
Subject Advanced accounting 2

XX acquired 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?
Select one:
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 period 1 August 2020 to 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 year ended 31 December 2020

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