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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.
Contribution and indemnity Generally the trustees are jointly and severally liable to the beneficiaries and a trustee sued may claim contribution from the others where although
Q. Prior period adjustments a. may only increase retained earnings. b. may only decrease retained earnings. c. may either increase or decrease retained earnings. d. do not affect r
1. Lease vs. Buy Trasky Company is trying to decide whether it should purchase or lease a new automated machine to be used in the production of a new product. If purchased, the
The cash flow as well as other benefits of factoring was discussed earlier. Invoice discounting as well offers cash flow advantages. Here selected invoices of superior quality are
some lectures on branch accounting chapter of advance accounting or way how to do journal entries or way of branch accounting??i m totally unaware of this chapter and want to study
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Tally & Co. incurred a pretax operating loss of $100,000 in its first year of operations for both financial reporting and income tax purposes. However, it expects to be profitable
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The financial year of Jack and Jill Ltd will end on 31 May 2008. At 1 June 2007, the company had in use equipment with a total accumulated cost of Rs 135,620 which had been depreci
calculate the ratios of the company called ''Apple''
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