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Holding company with a direct shareholding in sub-subsidiary companyUnder this type of structure, both the holding and subsidiary company have some shareholding in the sub-subsidiary company. The consolidation process will also remain the same as the second type of structure only that this time care should be taken in dealing with the following items.1) The effective shareholding of the holding company will now be both direct and indirect. E.g. assume the following structure.
The same approach will be used as that of the previous structure. The following additional points need to be considered:2) On the debit side of the cost of control, the investment in subsidiary and sub-subsidiary will appear as follows:
3) The proposed dividends in sub-subsidiary company may also require a different accounting entry and this is because the holding company will now receive its share.
Two entries may thus be necessary and these are:DR. Group proposed dividends (with holding company’s direct share in proposed dividend of ss) CR. Group retained profitsDR Group proposed dividends (with subsidiary company share of the proposed dividends in sub-subsidiary) CR. Group retained profits (with holding company’s indirect share for proposed dividends in sub-subsidiary) CR. M.I (with Minority interest’s indirect share of proposed dividends in subsidiary)
Heather & Terry have a mortgage on their primary residence of $750,000 and a mortgage on their vacation home of $410,000. In 2013, they incurred $46,400 of mortgage interest expens
PRESUMPTION OF SURVIVORSHIP Where two or more persons have died in circumstances rendering it uncertain which of them survived the other or others, the deaths shall, for all pu
Received 10,000 contribution from bill london in exchange for common stock What 2 accounts are used
Evaluate 1-1/3(5/6 - 1/2) ---------------- 2/5 / 2/5(5/6-2/3)
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The company selected a suitable site and commissioned a survey and valuation report, for which the fee was £1,500. On the basis of the report the site was acquired for £90,000. Sol
The comparative balance sheets for 2013 and 2012 are given below for Surmise Company. Net income for 2013 was $80 million. SURMISE COMPANY Comparative Balance Sheets December 31, 2
Research and Development (R&D) - Research is a planned activity aimed at discovery of new knowledge with hope of developing new or improved services andproducts. Development is the
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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
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