On March 16,2011,Blue Corporation purchased 10% of the Gold Corporation stock outstanding.Blue Corporation purchased an additional 40% of the stock in Gold on October 24,2011,and an additional 25% on April 4,2012.On July 23,2012,Blue Corporation purchased the remaining 25% of Gold Corporation stock outstanding.
Definitions:
Cash Short and Over
An account that stores any discrepancies between the expected cash count and the actual amount of cash present, reflecting errors or theft.
Other Income
Revenue generated from activities that are not part of a company's primary business operations, including interest, dividends, and gains from asset sales.
Income Statement
A financial report that shows a company's revenues, expenses, and profits over a specific period.
Separating Responsibilities
A risk management technique that involves dividing tasks and authorities among different individuals or groups to reduce the risk of error or fraud.
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