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Group retained profitsRetained profits ideally should be the amounts that can be distributed as dividends. Therefore, in arriving at group retained profits, careful attention should be paid to the profits of the subsidiary company. All the profits of the holding company can be distributed or are distributable.However, the subsidiaries profits belong to both the holding company and the minority interest. Thus the share that belongs to the minority interest will be transferred to the Minority interest’s account.The remaining profits that belong to the holding company should be split between pre-acquisition profits and post acquisition profits.
Format of the Balance Sheet It shows the financial position of the company as at the end of a given financial period. The standard requires that assets and liabilities should b
The cash flow as well as other benefits of factoring was discussed earlier. Invoice discounting as well offers cash flow advantages. Here selected invoices of superior quality are
Creation An express trust is "created not by facts and circumstances, but by the express words of the settlor". (Fitzgerald v Stewart) It may be created in the following ways:
No. Account Title Debit Credit 101 Cash . . . . .
Did ford realize any gain or loss from securty sales during 2009?
Are revenue and expense accounts permanent accounts and should not be closed at the end of the accounting period?
prepair two adjusting entries
Mr. Wong currently running a small manufacturing business. The Trial Balance of the business at 31 March 2011 is as follows:
A company's sales are 50% in cah and 50% on credit. 70% of the credit sales are colected in the month of the sale, 20% in the month following the sale, and 5% in the second month f
Closing Entries: Expenses Below is a list of accounts with corresponding ending balances. Account: Account Balance a.Insurance Expense: $1,300 b.Cash: 750 c.Accounts Receivable: 4,
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