Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Investment with ex. div. quotation
Investment with ex. div. quotation will be debited to the investment account at its ex. div. value. The full impending dividend will also be debited to the Investment Account. When the dividend is subsequently received it is apportioned in the same way as a) above. A journal transfer is then made from the Capital column of the Investment Account to the debit of the Estates Capital Account in order to restore the book value of the investment to its probate (quarter—up) value.
Exanple Date of Death: 30th June, 20X5
Stock: 3% Kenya Stock
Interest paid: 31st January
31st July
Holding: Shs 6m quoted at 86—88 ex.div.
Investment Account
Nominal Income Capital Nominal Income Capital
20X5 Sh'000 Sh'000 Sh'000 Sh'000 Sh'000 Sh'000
June Estate July Estate
30 Capital 31 Cash
Account Book
(stock (interest
at pre-
death) 6,000 5,190 death 75
post-death 15
(interest July Estate Capital
due) 90 31 Account
15
A parent has had a controlling interest of 60% in its subsidiary for a number of years. Below are financial statement extracts of the two companies for the year ended 30 June 20
Identify the Depreciation Methods On January 3, 2005, XYZ Distribution Co. paid $224,000 for a computer system. In addition to the basic purchase price, the company paid a set
SF is a division of Sell.com, an internet retailer. SF operates two large server farms, each of which is a set of interconnected computers and hard drives that are used to process
Q : The Trial Balance of Dephane Main Fashion Center contained the following accounts at November, 30 the end of the company fiscal year. Dephane Main Fashion Center Trial Balanc
A new shopping mall is considering setting up an information desk staffed by one (1) employee. Based upon information obtained from similar information desks, it is believed that p
During 2014, Victoria’s Fashion had beginning inventory of $480,000, ending inventory of $560,000, and cost of goods sold of $2,200,000. Compute the inventory turnover and days’ in
You are preparing and income statement and analysis of retained earnings for Pacioli Wholesale Corporation for the years ended June 30, 2011 and 2012 based on the following informa
Question: Mosman Ltd produces a single product. The projected sales for the first month of the coming year and the beginning and ending inventory data are as follows:
Voluntary settlements The trustee can claim all property settled by the bankrupt on other persons within two years preceding the bankruptcy unless made: a. Before and in consi
Dividends out of the capital profits Dividends out of the capital profits are apportioned on the same basis as dividends out of income (Re. Doughty). (a) Variation of sec
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd