Consolidated P&L

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:32AM in AAT student discussion
Please can someone refresh my memory as I have left my books at home and can't remember to be honest!!
If I have two companies accounts to consolidate, Exe & Wye for example and Exe had £120000 sales but £20000 was to Wye, how do I show it in the adjustments?
Any help would be appreciated.
Cheers

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Consolidated P&L

    Hi Mandy

    Don't know the answer but thought I would say hello, how you doing? are you taking the exam in December? What happened to your moving plans????

    Chat soon, tracytlewis@btinternet.com

    Tracy
    xx
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Consolidated P&L

    Hi

    As you said consolidate, I'm guessing that you would show £20,000 as an intercompany debtor with Wye in Exe's accounts and £20,000 as an intercompany creditor with Exe in Wye's accounts.

    I believe intercompany debtors and creditors will be on the balance sheet.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Consolidated P&L

    Dear PP22,
    many thanks for that, I think I have got it now!
    Cheers

    Tracy - have sent you a PM.

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