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8 Cards in this Set
- Front
- Back
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Reverse transfer out of pre acquisition retained earnings
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DR Bonus share/ General reserve/ or whatever
CR Retained earnings |
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Impairment of goodwill:
Current year |
DR impairment of goodwill
CR Accumulated impairment |
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Impairment of goodwill:
Prior year |
DR impairment loss
DR retained earnings CR Acc. Impairment |
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Reverse management fee
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DR management fee revenue
CR mgmt. fee expense Only if unpaid @ year end: DR mgmt. fee payable CR mgmt. fee receivable |
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Reverse inter-entity loans
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DR Loan payable
CR Loan receivable If there’s interest: DR interest revenue CR Interest expense If interest is still payable: DR Interest payable CR Interest receivable |
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Eliminate dividend paid (from revenue)
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DR Dividend revenue
CR Dividend paid |
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Eliminate dividend declared (from revenue)
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DR Dividend revenue
CR Dividend declared |
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Eliminate receivable/payable on dividend declared
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DR Dividend payable
CR Dividend receivable |
