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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).
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Cleaning Co. began business on March 1, 2011. The company provides specialized cleaning services to corporate clients. Listed below are the transactions entered into by Cleaning Co
what is the formulae for calculating Net income?
The business is considering two proposals for their promotions of the professional courses.Proposal one could give a stable return throughout the period. Proposal Two would give hi
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The purchase of a car needs a $23,410 loan to be repaid in monthly installments for 4years at 12% annual real interest rate. If annual inflation rate is 4%, find the extra amount t
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The Statement of Affairs The statement of affairs sets out: (a) The various assets of the debtor, at the values they are expected to realise; (b) The creditors, classified acc
what is the implication of applying accounting concept wrongly
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