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A parent has had a controlling interest of 60% in its subsidiary for a number of years.
Below are financial statement extracts of the two companies for the year ended 30 June 2011:
Parent Subsidiary $'000 $'000 Total comprehensive income 2,364 880 Dividends paid (120) (50) New share capital issued during the year (nominal value + premium on issue) 500 200 The share capital issued by the subsidiary was issued in proportion to ownership rights of existing owners. Requirement
Show the change in equity reported in the consolidated statement of changes in equity of the parent (allocated between amounts due to equity holders of the parent and non-controlling interests).
are the notes to the financial statements part of the financial reporting
Closing Entries: Expenses Below is a list of accounts with corresponding ending balances. Account: Account Balance a.Insurance Expense: $1,300 b.Cash: 750 c.Accounts Receivable: 4,
Effect of disclaimer The trustee may disclaim onerous property consisting of: Land burdened with onerous covenants; Stocks and shares; Unprofitable contracts, or
Content of accounts Periodical accounts should normally consist of: 1. Balance sheet of the whole trust; 2. Capital account; 3. Income account
Q. Explain Statement of Financial Condition? Statement of Financial Condition -Elementary FINANCIAL STATEMENT, generally accompanied by appropriate DISCLOSURES which describe t
For a capital lease the lessee records the lease payments as rent expense, but for an operating lease the lessee reports the lease payments as depreciation expense For an operating
Sales volume reaches the maximum capacity of the new machine in Year 4. The positive NPV point to that the investment in Machine Two is financially acceptable althoug
Grants are not necessarily recognized as revenue when they are awarded. Columbus City was awarded a state reimbursement grant of $150,000 to assist its adult literacy program. The
What is accounting? Accounting is concerned with analysing, collecting as well as communicating financial information. Purpose is to help people who use this info to make more
Did ford realize any gain or loss from securty sales during 2009?
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