As per Jurate & Dovile of e.g 1 concerning goods in transit :
" Goods despatched by Jurate to Dovile before the yr end ( 31/12/2009) with the related invoices to the value of $10000 were not received by Dovile until 4 Jan 2010. Original cost of goods was $10,000."
Adjustments made :
+ $10,000 in S inventory
+ $10,000 in Trade payables for P
As per Boo e.g in BPP xam kit :
"On 31 December 2008, Boo (parent) despatched goods which cost $80,000 to Goose (sub), at an invoiced cost of $100,000 n Goose received the goods on 2 Jan 2009 n recorded transaction then."
Adjustments made to B/S:
+ $80,000 in Goose inventory
- $100,000 from receivables
- $20,000 pup from CREarnings
Why r the entries different from Jurate&Dovile (xcept pup part)?
" Goods despatched by Jurate to Dovile before the yr end ( 31/12/2009) with the related invoices to the value of $10000 were not received by Dovile until 4 Jan 2010. Original cost of goods was $10,000."
Adjustments made :
+ $10,000 in S inventory
+ $10,000 in Trade payables for P
As per Boo e.g in BPP xam kit :
"On 31 December 2008, Boo (parent) despatched goods which cost $80,000 to Goose (sub), at an invoiced cost of $100,000 n Goose received the goods on 2 Jan 2009 n recorded transaction then."
Adjustments made to B/S:
+ $80,000 in Goose inventory
- $100,000 from receivables
- $20,000 pup from CREarnings
Why r the entries different from Jurate&Dovile (xcept pup part)?
