Advanced accounting
This query is : Resolved
10 May 2019
A co sold convertible share to B
B sold To C
A Co got money from C company
How to treat this transaction in A co
B sold To C
A Co got money from C company
How to treat this transaction in A co
07 June 2019
debit B's A/c
credit sale of investment in convertible share
(This is recorded at the value at which the transaction is agreed upon between A and B)
debit bank A/c
credit B's A/c
(On receiving money from C)
credit sale of investment in convertible share
(This is recorded at the value at which the transaction is agreed upon between A and B)
debit bank A/c
credit B's A/c
(On receiving money from C)
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