consolidated balances sheet-intragroup sales
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I was given practice balance sheet at college,say the parent company is b subsiduary company is d.I cannot get it to balance, 2 of the points i have to consider is that:
1)included in trade receivables for b is 400,000 owing form d for inter company sales
2)Also included in the trade payables for dandelion is 400,000 due to b for inter company purchases (all have been sold outside the company)
I just added both the trade receievable figures for both companys and and the same for trade payables and deducted 400,000 from both.
Was that correct? i didnt need to deduct this from anywhere else did i?
Thanks in advance.
1)included in trade receivables for b is 400,000 owing form d for inter company sales
2)Also included in the trade payables for dandelion is 400,000 due to b for inter company purchases (all have been sold outside the company)
I just added both the trade receievable figures for both companys and and the same for trade payables and deducted 400,000 from both.
Was that correct? i didnt need to deduct this from anywhere else did i?
Thanks in advance.
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