kim2_0001644 - B Ltd owed E Ltd Sh 36 million and Sh.32...

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B Ltd. owed E Ltd. Sh. 36 million and Sh.32 million respectively. E Ltd.’s net profit for the year, after tax but before dividends, was Sh.240 million; this profit accrued evenly over the year. 4. Neither A Ltd. nor B Ltd. Has accounted for dividends receivable. 5. The group accounting policy in relation to goodwill is to recognise it as an intangible asset and impair it a rate of 33.333% per year, with a proportionate charge for a period of less than one year. Minority interest is recorded as its proportion of the fair values of the net assets of the subsidiary: dividends due to minority interest are carried within current liabilities. Required:
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The consolidated balance sheet of Aberdare Limited and its subsidiaries as at 31 March 1999 in accordance with the International Accounting Standard 1 – presentation of financial statements (Revised 2004) CASE STUDY In the world of growing economy and globalization, major companies on both domestic and international markets struggle to achieve the optimum market share possible. Every day business
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