Eliminating transaction for con.balance sheet
This query is : Resolved
Sunil Pandya
(Querist)
13 January 2020
Can you guide me what is the accounting entry for 1)Parent to a subsidiary sales, purchase, loan 2)subsidiary to parent sales, purchase, loan. What should be accounting entry if the parent provides part of margin money to obtain a bank loan, is margin money should be treated as a loan to subsidiary by parent and vice a Versa?
Amol S Joglekar
(Expert)
15 January 2020
same principles of double entry
Sales from parent company to Subsidiary
Entry in the books of Parent........ debit Subsidiary Co. and credit Sales
Entry in the books of subsidiary company....... Debit Purchase and Credit Parent Company
and so on so forth
Sales from parent company to Subsidiary
Entry in the books of Parent........ debit Subsidiary Co. and credit Sales
Entry in the books of subsidiary company....... Debit Purchase and Credit Parent Company
and so on so forth
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR9 Annual Return
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Ito add credit side of bank
- Employee secondment
- Reward for festival
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Form 144 TDS Return Validation error
- TDS Return Statement Status
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Appointment of Auditor By Form ADT-1
- Upload Level ValidationITR3Category of Defect B/D
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- MSME Payment Sec.43B (h)
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
