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!
Inter Company balances
One of the companies may appear as receivable (debtor) or payable (creditor) in the other company’s books. Just like in accounting four branches, such inter-company balances should be excluded from the consolidated balance sheet.The following situations may therefore apply:a) If the inter-company balances are directly opposite and equal ie a receivable in one companies books is the same as the payable in the other company books and these amounts are included in the receivables and payables of the group.
DR. Group accounts payables CR. Group accounts receivable(with the full amount due from one company to the other)
If the amounts due from one to the other are shown as separate amounts referred to as current accounts then the amounts or balances are simply ignored and not included in the consolidated balance sheet.b) If the inter-company balances are directly opposite but not equal then the first step will be: To make them equal by adjusting the holding companys balances.
Q. Describe about Backdating? i) Exercise price is based on a lower share price prior to option grant date. Practice of marking a document with a date that precedes actual date
Prepare a financial statement from alphabetic listing of accounts: A number of accounts balances are listed below these accounts relate to Keenal Real Estate. During the year just
Calculate the claim under insurance policy: 1) What do policy limits of 200/300/100 on an automobile insurance policy mean?Your automobile insurance policy contains policy lim
On December 31, 2004, International Refining Company purchased machinery having a cash selling price of $85,933.75. The company paid $10,000 down and agreed to finance the remainde
1.Which of the following is true? A. Land is depreciated using the straight line depreciation method B. Land is amortized using the declining balance method C. Land is depleted usi
Illustration of Pre-Aquisition H Ltd.. Acquired 80% of S Ltd. during the year ended 31/12/04. S Ltd. paid an interim dividend of 40,000 on 30th September and as at 31/12/04 h
The Statement of Affairs The statement of affairs sets out: (a) The various assets of the debtor, at the values they are expected to realise; (b) The creditors, classified acc
5 accounting techniques
like Amazon.com face with respect to safeguarding its assets? What types of controls do you think it already has in place to minimize these risks?
What are main factors that Nor'easters should take into account in establishing a pricing policy? The minor revenue generators of Nor'easters include corporate sponsorships and
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