Hello. A company has received funds from its foreign holding company towards further investment in the subsidiary's shares. But the allotment never took place. Instead, the subsidiary has treated this as a loan from the parent company and has adjusted the same towards expenes reimbursable by parent. What are the series of entries to be passed?
Menu
Non allotment of shares and penalty thereof
Replies (1)
Bank a/c Dr
to Parent company a/c
for loan received
Respective expenses accounts Dr
to Bank a/c
Resolution copy must be accompanied with this entry voucher for auditing purpose
Recent Topics :
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
Related Topics :
CAclubindia
