intra group transaction Flashcards
1
Q
lending/borrowing?
A
Dr Loan Payable
Cr Loan Receivable
Dr Interest Revenue
Cr Interest Expense
2
Q
Divided paid?
A
Dr Dividend Revenue
Cr Divided Paid
3
Q
Divided Declared?
A
Dr Dividend Revenue
Cr Dividend declared
Dr Divided Payable
Cr Dividend receivable
4
Q
Non-Current Asset: Year of Sale?
A
Dr Machine
Dr Gain on Sale
Cr Accumulated Depre
5
Q
Non-Current Asset: Year after sale?
A
Dr RP (SOP)
Dr PPE
Cr Accumula Depre
Dr Accu Depre
Cr RP (SOP)
Cr Depr Expense
6
Q
Inventory: Year of intra-group sale?
A
Dr Sales Revenue
Cr COGS
Dr COGS
Cr Inventory
7
Q
Inventory: year of external Sale?
A
Dr RP (SOP)
Cr COGS
8
Q
Services?
A
Dr Service revenue
Cr Service expense
