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Proposed dividends by subsidiary companyIf the subsidiary company has proposed some dividends appearing under current liabilities then the dividends are payable to the holding company and minority interest.The share that belongs to the Minority Interest will remain as a current liability and will be added to the proposed dividends of the holding company to form the group proposed dividends.However, the share that belongs to the holding company is a form of inter-company balance and should thus be excluded from the consolidated balance sheet.The following entries are relevant;a) If the holding company has accrued its share of proposed dividends.
DR. Group proposed dividends CR. Group receivables (includes dividends receivable)
b) If the holding company has not accrued for the share of its proposed dividends
DR. Group proposed dividends CR. Group retained profits.
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
1) The detailed information is on the second tab marked "Financials". Enter summarized Balance Sheet and Income Statement information for Cummins into the template on the "Summary
You are considering whether to replace an existing flow meter in an ongoing operation. A change in the meter will have not affect revenues but will reduce costs. The existing meter
explain the procedure followed in gpvernment system of accounting in india
NSC Ltd has a 31 may fiscal year end
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Robin Corporation accepted credit cards for $34,200 of services performed in October 2011.The credit card company charged a 3% service fee and paid Robin as soon as it received the
Q. Explain about Financial Accounting Standards? Financial Accounting Standards - Official promulgations, also called STATEMENTS OF FINANCIAL ACCOUNTING STANDARDS, by FINANCIAL
IAS 1 rules IAS 1 requires companies to observe the following rules in preparing published financial statements: 1) The financial statements should reflect a true and fair v
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