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ACT 3126 Advanced Accounting I

ACT 3126 Advanced Accounting I. Consolidating Group Companies. Content. Inter-company transactions Inter-co sales of stock Inter-co sales of fixed assets Acquisition during accounting year Conclusion. Inter-co transactions: the principles. Transfer at cost vs. above cost.

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ACT 3126 Advanced Accounting I

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  1. ACT 3126Advanced Accounting I Consolidating Group Companies

  2. Content • Inter-company transactions • Inter-co sales of stock • Inter-co sales of fixed assets • Acquisition during accounting year • Conclusion

  3. Inter-co transactions: the principles • Transfer at cost vs. above cost

  4. Inter-co sales of stock Sales Purchase RM60,000 (invoice) S Bhd P Bhd Cost RM60,000 Cost RM40,000 Profit RM20,000 (50% margin) Sold RM50,000 Bal RM10,000

  5. Journal entries

  6. Inter-co sales of stock Purchase Sales RM60,000 (invoice) S Bhd P Bhd Cost RM40,000 Profit RM20,000 (50% margin) Cost RM60,000 Sold RM50,000 Bal RM10,000

  7. Journal entries

  8. Illustrations 2,3 and 4 Sales of stock

  9. Inter-co sales of fixed assets Sales Purchase RM120,000 (invoice) S Bhd P Bhd Cost RM120,000 NBV RM90,000 Profit RM30,000 Depreciate S-L over 10 years Annual depreciation: RM12,000

  10. Journal entries

  11. Illustration 3 • Sales of machine

  12. Acquisition during the year Acquisition : 1 August 1 Jan 31 Dec NOT REPORTED REPORTED

  13. Illustration 5 • Buat soalan pls, masukkan semua except dividend

  14. Illustration 6 • Discuss qs saja, jwpn discuss wed

  15. Conclusion

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