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CONSOLIDATED INCOME STATEMENT AND CONSOLIDATED STATEMENT OF CHANGES IN EQUITY The consolidated income statement follows similar principles as those of the consolidated balance sheet. This is because the procedure involves adding the transactions of the subsidiary company to those of the holding company while excluding inter company transactions and making the necessary inter-group adjustments for items like unrealized profits on inventory.The consolidated statement of changes in equity only reports transactions that tare attributable to the holding company. Therefore, it deals with the holding company’s retained profits plus the holding company’s share of post acquisition retained profits in subsidiary company.
PLEASE, HOW DO WE TREAT PER-ACQUISITION LOSS
Beginning balance 24,000 cash Sales 250,000 Gross profit 45% of sales Accounts receivable increase by 24,000 Accounts payable increased by 51,000 Inventory increased by 98,000 Sell
DIVIDENDS Dividends must be declared and paid in accordance with the following rules: 1) The first dividend must be declared and paid within four months of the first meeting o
IFRS guidelines IFRSs Gives the guideline on the content and the accounting statements of certain events and transactions in the financial statements. The following IFRSs are r
In its first month in business, Jones, Inc. sold merchandise to customers on account for $119,800. It collected $72,000 on those sales during the first month and recorded Revenue f
Kevin Murtuagh, manager of an national reservation service for a nationwide chain of luxury hotels, is concerned about productivity of his operation. Analysis of recent historical
Rogers Communication is considering whether to take advantage of historically low Canadian interest rates and lower its cost of debt by refunding its old bonds. Rogers has a $50mil
Q. Calculation of internal rate of return? The company is accurate in its belief that NPV measures the potential increase in company value of an investment project since theore
ABATEMENT OF LEGACIES (a) If the assets, after the payment of debts, necessary expenses and specific legacies, are not sufficient to pay all the general legacies in full, the l
Distribution of Assets 1. Proof of debts : If the company is insolvent, the rules in bankruptcy as to provable debts, secured creditors, interests, mutual dealings, annuiti
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