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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).
Q. Show the Expatriation Tax? Expatriation Tax - Individuals who loose or terminate their residency within 10 year period immediately preceding the close of a tax year, if term
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information for the year ended December 31, 2010: Sales 110,000 Direct materials used 20,800 Indirect production costs-fixed 10,400 Indirect production costs-variable 6,600 Direct
Q. Discount rate to the estimated NPV of the investment? There is no necessity to round the solution up to the nearest whole percentage. NPV approximate may be made using the e
Circumstances under which a subsidiary company can be excluded from consolidation Consolidated financial statements shall include all subsidiaries of the parent A parent need
Generally Accepted Accounting Principles (GAAP) are guidelines for companies to follow as they prepare and issue financial statemnents. Let's start by getting an understanding of w
Q. Estimate cost of equity using market values? The cost of equity as well as cost of debt should always be estimated using market values. If the approximate cash flows of a
The following are the three-month HIBOR and three-year EFN futures prices for September 2010 contracts. a Determine the HIBOR in three-months for settling the futures
Illustration of Corporate tax During the year ended31/12/2003, A Ltd. had estimated the corporation tax for the year to be £100,000. The amount was still outstanding as at 31/1
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