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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 will be reversed as follows. DR. Cost of control CR. Group retained profits(With the holding company’s share of the loss)
1-Dec $92,000.00 of 5% bonds are purchased with check. Interest is paid once a year and will mature in 5 years. The market yield for these bonds is 4%.
1) Inventory of raw material are held to make sure that the production process is not disrupted because of shortage of raw material. The amount of raw material inventory would base
March and has already accumulated $30,000 in manufacturing costs, Job B and order for 10,000silver medallions, was not started until April. Transactions for these jobs are the foll
Accounting Policies These financial statements have been prepared under the historical cost basis of accounting which is modified to accommodate the revaluation of certain proper
Jim owns and manages a small business, which provides an office design service, as well as buying and selling office furniture. Jim is a sole trader who manages all aspects of the
Appointment of Liquidator The liquidator is appointed by the court after the above meetings have been held: if the meetings do not agree, the court must settle the issue: if no a
ACCOUNTS REQUIRED This can be summarized depending on the nature of the situation. In a receivership you may be required to prepare a receivers receipt and payments. In the pro
Q. Explain about Mutual Fund? Mutual Fund - Investment Companythat usually offers its shares to general public and invests the proceeds in a diversified portfolio of SECURITIES
Baseball Products manufactures a single product with the following full unit costs at a volume of 2,000 units: Direct materials $ 900 Direct labor 360 Manufacturing overhead* 6
Determine about the accounting information Numerous user groups have an interest in accounting information relating to a business. Majority of these are outside the business ho
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