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Homework answers / question archive /  Ltd is a subsidiary of Pinhead Ltd for the year ending 2009

 Ltd is a subsidiary of Pinhead Ltd for the year ending 2009

Accounting

 Ltd is a subsidiary of Pinhead Ltd for the year ending 2009. The following are the balances recorded in Charis books for the year 2009:

 

$

Ordinary Shares

100,000

Preference shares 8%

50,000

Debentures 10%

30,000

The investments of Pinhead Ltd in Bowling Ltd are summarized as followed:

 

%

Ordinary Shares

60%

Preference shares

40%

Debentures

20%

Bowling Ltd has declared 10,000$ dividend for its ordinary shares and the respective yearly dividend and interest for preference shares and debentures. Bowling Ltd has not accrued for the dividends and interest declared.

Determine the accruals/

  1. Increase dividend payable by 14,000$ and increase interest payable by 3,000$ in Pinhead Ltd
  1. Increase dividend payable by 14,000$ and increase interest payable by 3,000$ in Bowling Ltd
  1. Increase dividend payable by 13,000$ and increase interest payable by 4,000$ in Pinhead Ltd
  1. Increase dividend payable by 13,000$ and increase interest payable by 4,000$ in Bowling Ltd

 

 

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