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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.
Fixed Interest Securities No advice in writing is required before an investment in fixed interest securities is made. Government Securities. Treasury Bills. Fixed
Heathrow issues $2,000,000 of 6%, 15-year bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,728,224.
Inventories constitute a important portion of the current assets ranging from 40 percent to 60 percent for manufacturing companies. The manufacturing companies conduct investments
USING PROPER ILLUSTRARTION,ELLOBORATE ON THE REGULATORY FRAMEWORK THAT SUPPORTS FINANCIAL REPORTING IN NON PROFIT ORGANISATIONS.
Brushy Mountain Mining Company's ore reserves are being depleted, so its sales are declining. Also, its pit is getting deeper every year, so its costs are rising. As a result, the
economic substance as in recognition of revenue
1. Kinetics is considering a project that has a NINV of $874,000 and generates net cash flows of $170,000 per year for 12 years. What is the NPV of this project if Kinetics' cost o
The office building was bought in January 1, 2011 and was originally planned to be used for 40 years and had no salvage value. It is depreciated on a straight line basis. Now in
Don and Harvey began operations as a partnership on October 3, 2010. The company spent $60,500 on organization costs that year. How much can the company deduct in 2010 relating to
Help making t-Accounts
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