Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Differences in Inter company balances
i) Cash in transitWhere one company may have sent cash which is yet to be received by the other company as at the end of the financial period and thus irrespective of the company sending the cash, the following entry will be made; DR. Group cash at bank CR. Group accounts receivable/payables.ii) Goods in transitWhereby one company has sent goods that are yet to be received by the other company as at the end of the financial period and in most cases it is assumed that the goods are sent at an inflated price and thus there is an unrealized profit thereof. The relevant entry will be
DR. Group inventory (with the cost of the goods)DR. Group retained profit (with holding company share of unrealized profit)DR. M.J (with M.J’s share of unrealized profit if it is subsidiary company sending goods) CR Group account receivables /payables.iii) Administration expenses
The holding company may have charged the subsidiary company with its share of administration expenses but this amount is yet to be accrued or accounted for by the subsidiary…
The relevant entry will be;
DR. Group retained profits (with holding company share of admin expenses)DR. M.I (with M.I share of admin expenses) CR. Group accounts receivable/payable.
petra corporation purchased P4,000 worth of merchandise on account terms 2/10, n?30, FOB shipping point. Prepaid transportation charges of P200 were added to the invoice.
Problems due to Piecemeal realizations These interim distributions give rise to two problems: Partners have not always contributed capitals in the same ratio as that in w
What are the positive and negative critiques of investment property
calculation
To observe terms of trust Trustees must comply with the trust instrument and the rules of equity; they need not consult the beneficiaries or take instructions from them; but the
Example of Short-term Solvency Current Ratio = Current Assets / Current Liabilities = 5.38
what are methods of calculating depreciation?
Which of the following statements is FALSE of Just-In-Time (JIT) manufacturing systems? Answer Demand pull means a closer relationship with the customer. The power of supp
Alliance Corporation (an Australian company) invests 1,000,000 marks in a foreign subsidiary on January 1, Year 1. The subsidiary commences operations on that date, and generates n
HOW TO RECORD INVENTORY AT NET REALISABLE VALUE ON JOURNAL
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd