Inter company transaction in account receivable, Accounting Basics

How to define Inter company Transaction in Account Receivable?

Ans) Intercompany transactions are those transactions that takes place among two or more entities of the similar group of company. So the receivable of one entity would the payable of one another entity. All intercompany transactions are eliminated before preparing the final Balance sheet of the group company.

 

Posted Date: 3/30/2013 5:10:32 AM | Location : United States







Related Discussions:- Inter company transaction in account receivable, Assignment Help, Ask Question on Inter company transaction in account receivable, Get Answer, Expert's Help, Inter company transaction in account receivable Discussions

Write discussion on Inter company transaction in account receivable
Your posts are moderated
Related Questions
Hello, I work in the Events Department for a country club in Rhode Island. We are trying to figure out the following question for an invoice: A restaurant bill is $18.50 and inclu

1.A business man strated business with 100million on the bank account obtained as a retirement package, 2.He used part of the money and bought a building worth 60 million, 3.He let

Accounting conventions The phrase 'convention' is used to signify customs or ethnicity as a guide to the research of accounting statements. A variety of accounting conventions

Julie Whiteweiler made $930 this week. Only social security (fully taxable) and federal income taxes attach to her pay. Whiteweiler contributes $100 each week to her company's 40

dividend received rs 100was posted to debit to dividend account. the rectification entry n will be what?

basic accounting Assignment

Q. What is Owners invested cash? When Metro Courier Inc was structured as a corporation on 2010 June 1 the company issued shares of capital stock for USD 30000 cash to Ron Chan

Social Responsibility Accounting: Social responsibility accounting is a modern phase in the development of accounting and owes its birth to rising social awareness that has be

Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.

Q. Explain about Gross margin method? The steps in computing ending inventory under the gross margin method are - Estimate gross margin based on net sales using the similar