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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
The partnership of Lewis and Clark had these balances at April 30, 2008: Cash........$28,000 Liabilities........56,000 Clark Capital...14,000 Other Assets...84,000 Service Re
COMMITTEE OF INSPECTION Appointment : A committee of inspection may be appointed by the creditors at their first or any subsequent meeting to supervise the trustee.
It is a managerial accounting cost method of expensing all costs related with producing a particular product. Absorption costing utilizes the total direct costs and overhead costs
SYSTEM ONE-THE HEAD OFFICE MAINTAINS ALL THE ACCOUNTS This system is suitable for an enterprise that has small branches (possibly in another area of the town or city where the
1. According to the notes to the financial statements, what method or methods does the company use to depreciate "plant and equipment?" What rate does it use to depreciate plant an
Group retained profits Retained profits ideally should be the amounts that can be distributed as dividends. Therefore, in arriving at group retained profits, careful attention s
Q. What is Amount per share? Par Value - Amount per share set in ARTICLES OF INCORPORATION of a CORPORATION to be entered in CAPITAL STOCKS account where it's left permanently
how to prepare the accounts when goodwill is not to be maintained in the books
Assume that prices and wages adjust rapidly so that the markets for labor, goods, and assets are always in equilibrium. What are the effects of each of the following on real money
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