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The functional currency method (formerly temporal method)
Under this method, the branch is considered to be an extension of the head office and this is reflected by the trading arrangement between the head office and branch.In most cases the head office will send goods to the branch and the branch will remit the proceeds on sale of these goods to the head office. Any exchange gain or loss arising from translating the results of the branch is treated as profit and loss item reported as an income or an expense.
Determine balance sheet: Income Statements Year Ended December 31, 20X8 Insure Co. Go-med Co. Sales $3,900,000
Received 10,000 contribution from bill london in exchange for common stock What 2 accounts are used
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
A company is necessary by law to offer an issue of new equity finance on a pro-rata basis to its existing shareholders. This makes sure that the existing pattern of ownership and c
Example of FNSD Inventory
Preference share capital in subsidiary (irredeemable) Investment in preference shares does not lead to ownership and therefore, if the holding company owns part of the preference
Assume you are receiving an amount of Rs.5000 twice in a year for subsequent five years one time at the starting of the year and another amount of Rs. 5000 at the ending of the yea
Brabham Enterprises manufactures tires for the Formula One motor racing circuit. For August 2011, Brabham budgeted to manufacture and sell 3,000 tires at a variable cost of $74
Resulting trusts Resulting trusts occur where equity regards the property which is held by a trustee as belonging in equity to the person who transferred it to, or caused it to
PVA ∞ = A(1 + k) -1 + A(1 + k) -2 +..... + A(1 + k ) ∞ + 1 + A (1 + k) ∞ Multiplying both the sides of Eq (a7) by (1+k) provides: PVA ∞ = (1 +k) = A(1 +k) +A (1 +k)
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