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IDEAL MINORITY INTERESTThe minority interest ideally is entitled to the profit after tax in minority interest. However due to consolidation, the profits of the subsidiary company should be adjusted first before getting their share. Care should also be taken especially if the subsidiary company has issued preference share capital and the minority interst owns part of this.The computation will therefore be carried out as follows:
£
Subsidiary company’s profit after tax
X
Add:
Annual excess depreciation charged by subsidiary co
Unrealised profit on opening inventory if subsidiary co. had made the sale
x
Less
Annual additional depreciation on Fair value adjustment
Unrealised profit on closing inventory if subsidiary co. made the sale
Unraelsied profit on PPE if subsiadiary company made the sale
(x)
Adjusted profit after tax in subsidiary
Less Preference dividend
Profit attributable to ordinary share holders in subsidiary company
Total due to Minority interest:
- MI’s share of preference dividend
- MI’ s share of profit attributable to ordinary shareholders
Prepare an income statement and statement of owner's equity (month ended Mar,31 1995) Auto remair fee earned 37,300 Salaries Expense 11500 Repair par
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
RECOMENDATION REGARDING THE CURRENT SOUTH AFRICAN VAT SYSTEM
Voluntary settlements The trustee can claim all property settled by the bankrupt on other persons within two years preceding the bankruptcy unless made: a. Before and in consi
Q. Define Risk-adjusted discount rates? One technique in this heading is the assignment of investment projects to one of a set of risk classes all of which has a different disc
examine the resemblance between Artificial intelligence and neural networks
Calculate Economic profit: Suppose a monopolistically competitive firm is facing the following demand and cost information. a. If the firm is a profit maximizer, how
1. A fellow student says to you: "The statement of cash flows is the easiest of the basic financial statements to prepare because you know the answer before you start. You compare
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