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OTHER ASPECTS OF THE CONSOLIDATED BALANCE SHEETThe consolidated balance sheet may require a special approach under the following situations:1) Pre-acquisition losses in subsidiary company on date of acquisition: If the subsidiary company has a loss on the date of acquisition i.e. a debit balance in the retained profits (profit and loss) account, then in computing good will, the entry to cost of control of profit and loss on acquisition 2) Acquisition during the financial period (particularly during the financial period): The holding company may acquire the subsidiary company partway through the financial period such that as at the balance sheet date, the subsidiary company has been held for a period of less than 12 months.3) Group structures: A group structure is the relationship between the holding company and its subsidiaries. There are normally four main types of group structures (apart from the holding company and one subsidiary).
Time tickets for factory employees during the month of August are summarized as follows. Prepare a journal entry to record the total factory payroll, the indirect payroll and the d
John Chan considers buying a six-month stock futures contract on the shares of Li & Fung Limited. Shares of Li & Fung Limited are now trading at $50 per share and it is expected th
Staples INC has operating leases. Assuming a discount rate of 9%, adjust the current balance sheet for the presences of these leases. Which reported expenses would change if these
Grand Champion, Inc., purchased America's Sweethearts Corporation on January 1, 2013. At the time, America's Sweethearts had $750,000 of identifiable assets and $525,000 of liabili
The objective of this project is to demonstrate the effect of releasing accounting information concerning profits on the valuation (i.e. share price) of an Australian;listed compan
Brushy Mountain Mining Company's ore reserves are being depleted, so its sales are declining. Also, its pit is getting deeper every year, so its costs are rising. As a result, the
Retained Earnings had a beginning balance of $2,758,000 and an ending balance of $3,885,700. Total revenues for the year were 3,790,800. During the year 130,300 in dividends were d
Assure you have just started a Mobile store. You sell mobile sets and currencies of Airtel, Vodaphone, Reliance and BSNL. Take five transactions and prepare a position stateme
On January 7, 2016, Captec Company purchased $4,175 of supplies on account . In Captec Company’s chart of accounts , the Supplies account is No. 15, and the Accounts Payable accoun
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