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INCOME STATEMENTa) Ignore the sales, cost of sales and the expenses of the associate company. However, premium or goodwill arising on acquisition of associate company should be computed the normal way as that of the subsidiary company incase of any impairment, then it should be included in the investing company’s expenses.
b) The investing company should report its share of profit before tax in associate company as part of other incomes and its hare of tax in associate company as part of its income tax expense. Alternatively, the investing company can show its share of profit after tax in associate company as other incomes.c) Just like in subsidiary companies the retained profits b/d of the investing company will be made up of the investing company’s retained profits b/d of the associate company. Adjustments for previously impaired goodwill or premium should be made at this stage.
Bell Mountain Vineyards is considering updating its current manual accounting system with a high-end electronic system. While the new accounting system would save the company mon
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Assessment Criteria: Student work will generally be assessed in terms of the following criteria: 1. Preparation of correct journal entries. 2. Accumulation of journal entr
how to calculate the value of ordinary share
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Q. Evaluate Equivalent annual cost? There are a number of techniques to answering this question and two are presented. The first difficulty is in deciding which broad approach
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