Intercompany transfer
This query is : Resolved
30 November 2012
Hi,
Please help me to find out solution for the following case:
Holding company purchased computer for Rs. 50000 and transfered it to its foreign subsidiary. Recognized as receivables in holding company's books of accounts.Now holding company wants to eliminate this balance because it is not receivable in actual. What adjustment can be done?
Please help me to find out solution for the following case:
Holding company purchased computer for Rs. 50000 and transfered it to its foreign subsidiary. Recognized as receivables in holding company's books of accounts.Now holding company wants to eliminate this balance because it is not receivable in actual. What adjustment can be done?
02 December 2012
When the accounts of both H and S Companies are merged, eliminate "receivable" from the H's Balance sheet and correspondingly eliminate "Payable" from the S's Balance Sheet in reference to Rs. 50000/-.
.
In case of Integrated Foreign Operations you have to follow AS-11 recommendations for translating the financial statements of "S" denominated in Foreign Currency .
.
In case of Integrated Foreign Operations you have to follow AS-11 recommendations for translating the financial statements of "S" denominated in Foreign Currency .
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