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Minority interest (MI)When the holding company owns less than 100% of the ordinary share capital of the subsidiary company then the other balance is held by minority interest. Therefore if the holding company owns 80% of the ordinary share capital of the subsidiary then the minority interest owns 20%. The minority interest (M.I) should be shown separately in the consolidated balance sheet but as part of shareholders funds and the figure to appear in the balance sheet will be made up of the following.-Minority interest share of the ordinary share capital in subsidiary on balance sheet date-Minority interest share of capital reserves in subsidiary company on balance sheet date-Minority interest share of revenue (retained profits) in subsidiary company on balance sheet date.Alternatively, the total due to the minority interest can be prepared by opening the Minority Interest account whereby the Minority interest’s share of the osc, capital reserves and retained profits in subsidiary company is posted to the credit side.
March and has already accumulated $30,000 in manufacturing costs, Job B and order for 10,000silver medallions, was not started until April. Transactions for these jobs are the foll
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
Q. What is Recapitalization? Recapitalization - An internal reorganization of a corporation including a rearrangement of capital structure by changing the kind of stock or numb
Four major qualitative characteristics of accounting information There are four major qualitative characteristics which influence usefulness of accounting information. Additio
State the users of accounting information Environment has brought new challenges for managers and other users of accounting information. Their requirements have changed and bot
a private owned business, pay salary to its employees according to the Ethiopian calendar month to the addis ababa city administration tax authority . Basic salary 3936 ,Normar wor
You are evaluating a project which costs $720,000, has a four-year life, and no salvage value. Depreciation is straight-line and the half year rule does not apply. Sales are projec
Open "Hoyle CPA: Earnings Per Share." Under "Free Questions" select "Financial Accounting & Reporting."
how to record items on this account
Accounts required and their purpose a. Branch Current Account (Head Office Books) Records all transactions branch and head office; The balance represents the investmen
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