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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
SMALL BANKRUPTCIES The court may order the estate of a debtor to be administered summarily, if the debtor's assets are not likely to exceed Shs 12,000 in value. This is known
wrote check to purchase law books for 2500 what 2 accounts
Rehab Health Co. offers personal weight reduction consulting services to individuals. On June 30, 2010, the balances of selected accounts of Rehab Health Co. are as follows: Acc
question 5 chapter 5
#qUsing these data from the comparative balance sheet of Junior Company, perform horizontal analysis. JUNIOR COMPANY
Weighing up the costs and benefits You may feel that, when considering a piece of accounting information, provided four main qualities identified are present and it's material
Question 1 Explain the functions of merchant banking and functions of financial intermediaries Question 2 What do you understand by book building and Green shoe option? Ex
Financial Institution - Organization engaged in any of the many aspects of finance involving thrift institutions, commercial banks, securities brokers, investment banks and dealers
Accounts of trustees The trustee must keep proper books of account, which may be inspected by the creditors at any time. The cash book must be audited by the committee of insp
In the current year, Madison Corporation had $50,000 of taxable income at a tax rate of 25%. During the year, Madison began offering warranties on its products and has a warranty l
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