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Question - Love acquired 30% of ordinary shares of Cinta on 1 July 2019 for RM20 million. Since the acquisition date, Love applies equity accounting to account for its investment in Cinta.
On 1 October 2019, Cinta sold one of its plants to Love for RM20 million. The carrying amount of the plant on the disposal date was RM18 million. The group policy is to depreciate plants at 10% on carrying amount.
Retained profit as at 1 January 2019 11
Retained profit for the year 9
Calculate the carrying amount of the investment and the share of profits.
You are working on the Bemco audit. Assume that each of the four sections of this question are unrelated. Bill Wedman, another staff member.
How do you record an adjustment for merchandise inventory?Physical valuation shows that Merchandise Inventory of ABC Company amounts to 937,089.
Prepare an income statement for the year ended December 31,2009. Prepare a retained earnings statement for the year endedDecember 31, 2009
A machine can be purchased for $213,000 and used for five years, Compute the machine's payback period (ignore taxes)
Your cousin, Sam is celebrating her 35th birthday today, amount must she deposit annually to be able to make the desired withdrawals on retirement?
wren company had credit sales of 250000 and cost of goods sold of 150000 for the period. awren uses the percentage of
Which funds are used by federal agencies to account for receipts of resources from specific sources, earmarked by law for special purposes?
Make all journal entries required for consolidation of Super Group Ltd for the year ended 30 June 2014. Show all calculations necessary
Illustrate the effects on the accounts and financial statements of Milan Co. to record (a) the purchase, (b) the merchandise return, and (c) the payment.
Need help with paper about credit card payment systems and am having major writer's block
GREEN Co. has a 75% interest in LIME, Inc. declared and paid dividend in the amount of P 9,000. The consolidated net income for the fiscal year was?
gordon company sponsors a defined benefit pension plan. the following information related to the pension plan is
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