Panter CO acquired 80% of the equity shares in Seal CO on 31 August 2012. The income statement of Panter CO and Seal CO for the year ended 31 December 2012 showed:
| Panter CO | Seal CO | |
| Revenue | 600,000 | 400,000 |
| Cost of sales | 150,000 | 108,000 |
During October 2012, Sales of $60,000 were made by Panter CO to Seal CO. None of these items remained in inventory at the year end.
What is the consolidated revenue for Panther Group for the year ended 31 December 2012?
Suggested solutions:
| Panter CO | Seal CO | |
| Revenue | 600,000 | 400,000 |
| Less Intra Co Sales | 60,000 | |
| 540,000 | 400,000 | |
| Less Revenue at acquisition (8/12) Jan - Aug | 266,667 | |
| Revenue post acquisition (4/12) Sep- Dec | 133,333 | 133,333 |
| Answer | 673,333 |
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2015 ACCA F3 CONSOLIDATED REVENUE