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!
RETAINED PROFITS BROUGHT FORWARDIf we recall from the consolidated balance sheet, the group-retained profits should be made up of the holding companies retained profit plus the holding companie’s share of subsidiary companies post acquisition retained profits. The same case applies to computing the retained profits brought forward of the group. The group-retained profits brought forward should be made up of the holding companies retained profit brought forward plus the holding companie’s share of subsidiary companies post acquisition retained profits brought forward.But we have to make adjustments to the holding companies retained profits brought forward and the subsiairy company’s profits before we get the holding companies sher. The adjustments are for transactions that took place previously that affect the profits of these two companies.The holding companies retained profits brought forward will therefore be adjusted as follows:
£
Holding companies retained profit brought forward
X
Add: Excess depreciation charged by holding company up to start of the year
x
Less : Unraelised profit on opening inventory if holding company had made the sale
Goodwill impaired to date (up to the start of the yaer)
Unrealised profit on sale of PPE in previous years if holding co. made the sale
(x)
Holding companies retained profit b/f adjusted for conslidation
The subsidiaries profits brought forward will be adjusted as follows before the holding company takes its share:
Subsidiary companies retained profit brought forward
Add: Excess depreciation charged by subsidiary company up to start of the year
Less : Unraelised profit on opening inventory if subsidiary company had made the sale
Depreciation on Fair value adjustment that should have been charged to date
Subsidiary company’s retained profit b/f
Question: The accountant of a company is preparing the cash budget for the first six months of 2011 and obtains the following information: Sales on credit, variable costs an
State the Accounting as an information system We know that accounting can be seen as provision of a service to 'clients'. Another way of viewing accounting is as a part of busi
Right of indemnity If the Official Receiver or trustee has seized or disposed of any property in the possession of the debtor, without notice or claim relating thereto, he is
The following data has been taken from the management accounting reports from Spinnaker Sales. Div A -Income from operations $1,800,000 Total service department charges $1,600,000.
Below is information about the spot and forward rates for three currencies against the US dollar (USD): Currency (exchange rate) Spot Rate Six-month forward rate Euro (EUR)
Q. What is Short Sale? Short Sale - Sale of an item before it is purchased. A person entering into a short sale believes that the price of item will decline between date of the
Q. Somento Forest Inc. has 10,000 shares of 6%, $100 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2014. What is
Balance Sheets: contains the balance sheets as of December 31, 2010, 2009, and 2008. Accounting practice and tradition dictates that the most current year is placed nearest to the
WHAT IS dEPRECIATION?
Application Information The application must include information as to: The full name of the deceased; The death and place of his death; Whether or not the decease
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd