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Holding company with a subsidiary and a sub-subsidiaryWhere the subsidiary company has another subsidiary company, then that subsidiary is referred to as a sub-subsidiary company of the holding company. This can be shown as follows:
The preparation of the consolidated balance sheet again remains the same as before because the process involves adding the assets and liabilities of the subsidiary and sub subsidiary to those of the holding company.
For several firms trade payables - suppliers of goods and services - represent the major component of current liabilities the amounts owed by the company which have to be repaid wi
1 The entry establishing a $175 petty cash fund would include a: a) debit to cash for $175 b) credit to Petty cash for $175 c) debit to petty cash for $175 d) debit to miscellaneou
Q. What do you understand by Partnership? Partnership - Relationship between two or more persons based on anoral, written or implied agreement whereby they agree to carry on a
Q. Bento, Inc. had 500,000 shares of common stock outstanding before a stock split occurred, and 1,500,000 shares outstanding after the stock split. The stock split was a. 2-for-5.
Consider an asset that cost 100000 to acquire and has an estimated salvage value of 20000. The assets is to be depreciated over four years. At the end of four years, the asset is s
According to the FASB, the usefulness of accounting is judged by which of the following two qualitative characteristics of accounting information? Comparability and neutrality Unde
VED Analysis: VED i.e. Vital, Essential and Desirable analysis is a technique employed for spare part inventory analysis and is broadly used in the automobile industry particul
Define the term- How are businesses organised Nearly all businesses which involve more than a few owners and/or employees are set up as limited companies. This means that finan
Question: The following information was extracted from the books of William Noel for the year ended 30 April 2009.
The assets and liabilities of Toronto Service Inc. as of December 31, 2008, and revenue and expenses for the year ended December 31, 2008 are listed below: Accounts
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