Advanced financial accounting - Lecture 39 (Part 1). The main topics covered in this chapter include: journal entries; parent company; subsidiary company; parent co. balance-sheet; subsidiary co. balance-sheet; intra goods in trading;... Please refer to the lecture for details!
Trang 1Advanced Financial
Accounting
Lecture-39
Trang 2Journal Entries
Parent Company
Debtor subsidiary Co A/c 700
Sales A/c 700
Subsidiary Company
Trang 3Parent Co.
Balance-sheet
Assets Amount Current Assets
Debtors S Co 700
Trang 4Subsidiary Co Balance-sheet
Liabilities Amount Current Liabilities
Creditors P Co
700
Trang 5Journal Entries
Parent Company
Debtor subsidiary Co A/c 700
Sales A/c 700
Subsidiary Company
Trang 6Intra Goods in Trading
1 Goods in transit
2 Cash in transit
Trang 7Parent Co
At Invoice
Debtors S Co 200
Sales Income 200
Trang 8Parent Co.
Balance-sheet
Assets Amount Current Assets
Receivables 700
Trang 9Subsidiary Co Balance-sheet
Liabilities Amount Current Liabilities
Creditors P Co
500
Trang 10Subsidiary Co
Checque to Parent Co
Creditor P & Co 200
Bank 200
Trang 11Parent Co.
Balance-sheet
Assets Amount Current Assets
Revenue from
subsidiary Co
against sales
700
Trang 12Subsidiary Co Balance-sheet
Liabilities Amount Current Liabilities
Payable to the parent
Co against purchases
500
Trang 13Consolidate Balance-sheet
Liabilities Amount
Current Liabilities
Goods /Cash in
transit
200
Trang 14Purchase 400 Sales 500 100
Purchase 500 Sales 350
150
Group
Purchase