India Inter Company Adjustment Jv


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SIR, I NEED TO PASS ADJUSTMENT ENTRY FOR INTER COMPANY
1) COMPANY A
2) COMPANY B
3 ) COMPANY C
( INTER RELATED COMPANIES)

IN THE BOOKS OF COMPANY A
TO PAY COMPANY B USD 5232.908
TO RECEIVE FROM COMPANY C USD 4994


IN THE BOOKS OF COMPANY B
TO RECEIVED FROM COMPANY A USD 4189/-


IN THE BOOKS OF COMPANY C
TO PAY COMPANY A USD 5013/-
TO RECEIVED FROM COMPANY B USD 1062/-

APPRECIATE YOUR ASSISTANCE
REGARDS
 
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kirby

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If your intercompany accounts are out of balance with each other then the offset account is to an income statement account. First check if the intercompany income/expense accounts are also out of balance. If so, adjust them too. If not, you will have to offset the adjusting entry to a non-intercompany profit/loss account. If that adjustment is large, then it is worth your time to find how the error happened and correct the related entries.
 

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