A consolidated journal adjustment set off the dividend receivable reported in the parents statement of financial position
Question:
A consolidated journal adjustment set off the dividend receivable reported in the parent’s statement of financial position against the dividend declared by the subsidiary. Explain why this may not fully eliminate the dividend that is reported in the group statement of financial position.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (7 reviews)
The dividend receivable reported in the parents statement ...View the full answer
Answered By
Milbert Deomampo
I have been tutoring for over 3 years and have experience with a variety of students, from those who are struggling to keep up with their class to those who are looking to get ahead. I specialize in English and writing, but I am also proficient in math and science. I am patient and adaptable, and I work with each student to find the best methods for them to learn and retain the material.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Accounting And Reporting
ISBN: 9781292255996
19th Edition
Authors: Barry Elliott, Jamie Elliott
Question Posted:
Students also viewed these Business questions
-
Statement of Financial position Adjustment and Preparation Presented below is the statement of financial position of Sargent Corporation for the current year. 2010 The following information is...
-
The consolidated statement of financial position for MIC as at 31 March 2009 and its comparative for 2008 are shown below: The consolidated income statement for MIC for the year ended 31 March 2009...
-
Statement of Financial Position Preparation Presented below are a number of statement of financial position items for Montoya. Inc., for the current year, 2010. Instructions Prepare a classified...
-
Describe what this statement does: print user name = + userName
-
Let N (t) be a Poisson counting process with arrival rate, . Determine whether or not N (t) is mean square continuous.
-
Huprey Co. is the defendant in the following legal claims. For each of the following separate claims, indicate whether Huprey should (a) record a liability, (b) disclose in notes, or (c) have no...
-
3. Why do you think Alfreda has not had an open discussion with Jack about the way he is treating her? If Alfreda approaches Jack directly, how do you think he will respond?
-
This problem takes you through the accounting for sales, receivables, and uncollectibles for Ship Fast Corp, the overnight shipper. By selling on credit, the company cannot expect to collect 100% of...
-
GIve an overall overview of Coca-Cola Company. (200 Words, No Copy Paste, No Handwriting)
-
The probabilities are 0.4, 0.2, 0.3, and 0.1, respectively, that a delegate to a certain convention arrived by air, bus. Auto mobile, or train what is the probability that among 9 delegates randomly...
-
Explain reasons why the current accounts in the parent and subsidiary may not agree. If not, how could the two accounts be set off?
-
Explain the effect of a provision for unrealised profit on a non-controlling interest: (a) Where the sale was made by the parent to the subsidiary; (b) Where the sale was made by the subsidiary to...
-
A lightbulb is rated at 60 W when connected to 120 V. (a) What current flows through the bulb in this case? (b) What is the bulbs resistance? (c) What would be the current in the bulb if it were...
-
Aircraft \(B\) has a constant speed of \(150 \mathrm{~m} / \mathrm{s}\) as it passes the bottom of a circular loop of 400-m radius. Aircraft \(A\) flying horizontally in the plane of the loop passes...
-
A small inspection car with a mass of \(200 \mathrm{~kg}\) runs along the fixed overhead cable and is controlled by the attached cable at \(A\). Determine the acceleration of the car when the control...
-
An aircraft \(P\) takes off at \(A\) with a velocity \(v_{0}\) of \(250 \mathrm{~km} / \mathrm{h}\) and climbs in the vertical \(y^{\prime}-z^{\prime}\) plane at the constant \(15^{\circ}\) angle...
-
If each resistor in Figure P31.75 has resistance \(R=5.0 \Omega\), what is the equivalent resistance of the combination? Data from Figure P31.75 wwwwww wwwww www www wwwww
-
Identify the proper point to recognize expense for each of the following transactions. a. Kat Inc. purchases on credit six custom sofas for \(\$ 800\) each in June. Two of the sofas are sold for \(\$...
-
Records from a specific bank show that 70% of car loan applications are approved. If eight car loan applications from this bank are selected at random, deter-mine the probability that exactly five of...
-
What is a content filter? Where is it placed in the network to gain the best result for the organization?
-
As the financial controller of SEAS Ltd, you are responsible for preparing the companys financial statements and are at present finalising these for the year ended 31 March 20X8 for presentation to...
-
The draft statement of financial position of Telin plc at 30 September 20X5 was as follows: Preference shares of the company were originally issued at a premium of 2p per share. The directors of the...
-
The following is the statement of financial position of Alpha Ltd as on 30 June 20X8: The following information is relevant: 1. There are contingent liabilities in respect of (i) A guarantee given to...
-
why would an auditor want to complete dual-purpose tests? what procedure can be put into place to help prevent fraud? List 4 procedures.
-
Based on the following information, calculate sustainable growth rate for Groot, Inc.: Profit margin= 7.1% Total asset turnover = 1.90 Total debt ratio = .45 Payout ratio = 20% What is the ROA here?
-
Consider the following: a call option on a stock has strike price $100, premium of $5 and the current price of the underlying stock is $100. If you buy the call option today, what is your holding...
Study smarter with the SolutionInn App