Hi all My company has a 50% shareholding in a joint venture company, A. A has a wholly owned subsidiary (B) and is going to transfer its interest in this subsidiary to its shareholders (i.e. 50% to my company and 50% to the other joint venturer). How shall my company account for such purchase of [...]
Dear Experts, A Parent Company B Subsidiary of parent company C Joint Venture company : Share capital Accumulated losses B has adopted equity accounting to book the loss or profit of C. C is under liquidation in next year and net assets distributed in JV partners. How to book liquidation entries in the books of [...]
Dear Experts, Do we need to pass an entry for share of loss / profit in joint venture in the books of subsidiary stand alone books FS and also the same in the books of parent company stand alone books. or to be considered only for out of books consolidation purposes.