The worksheet entries for the intergroup dividend are a DR Dividend revenue

The worksheet entries for the intergroup dividend are

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3)The worksheet entries for the intergroup dividend are: a)DR. Dividend revenue $ 200,000 CR. Dividend paid $ 200,000 b)DR. Dividend revenue $ 160,000 CR. Dividend paid $ 160,000 DR. Deferred tax asset $ 48,000 CR. Income tax expense $ 48,000 c)DR. Dividend revenue $ 160,000 CR. Retained profits (opening) $ 160,000 d)DR. Dividend revenue $ 160,000 CR. Dividend paid $ 160,000 DR. Minority interest $ 40,000 CR. Dividend paid $ 40,000 e)No entries are required because the dividend is distributed from 20X1 profits
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4)The worksheet entries for the intergroup transfer of plant are: 5)The worksheet entries for excess depreciation on transferred plant are:
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Use the information below to answer questions 36 to 40 On 1 January 20X1, AAA Ltd (AAA) acquired 80% of the shares of BBB Ltd (BBB). On the same date BBB acquired 60% of the shares of CCC Ltd (CCC). 80%60%AAABBBCCCThe identifiable net assets of CCC at the date of acquisition at fair value are represented by: Share capital $1,000,000 Retained profits 1.1.X1 $ 800,000 CCC’s retained profits at 31 December 20X3 are explained as follows: Retained profits 1.1.X3 $1,700,000 Add: Net Profit for the 20X3 year 3,000,000 Less: Dividends Paid (300,000)Retained profits 31.12.X3 $4,400,000 There have been no other movements in the equity of CCC since 1 January 20X1. 6)The ownership interests in CCC are:
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  • Three '11
  • diane
  • Accounting, Balance Sheet, Generally Accepted Accounting Principles, Cr., Dr. Retained profits

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