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Question - Case study - The parent entity, Olivia Ltd, has received a bonus dividend paid from its subsidiary's post acquisition profits. The accountant for Olivia Ltd, Lu Rong, is concerned that if on consolidation the total effects of this transaction have to be eliminated, then this will show a misleading financial position for the group. Her concern is that the subsidiary, by making a bonus dividend, has reduced the ability of the group to pay cash dividends. The consolidation adjustments will result in this fact not being made known to the users of the consolidated financial statements.
Required - Discuss whether Lu Rong has cause for concern, and what options are available for her in accounting for the bonus dividend.
Assume that the parent company has been applying the equity method. What will be the consolidated balance of each of these accounts?
Fx9-M6q Company employs a periodic inventory system, Calculate the amount of gross profit gross profit reported on Fx9-M6q Company's income statement for April.
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As a manager of a ski resort, you want to increase the number of lift tickets sold by 8%. Your staff economist has determined that the price elasticity of demand for lift tickets is 2. To increase sales by the desired amounts, what should you decreas..
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