Cash in transot

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November 9, 2010 at 7:56 pm #45865
alikhanatif
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Sir,
if there is any cash in transit transaction between parent and its subsidiary during the year, then how it will be treated in Statement of Consolidated Statement of Financial Position, kindly illustarate the treament, if any..
November 9, 2010 at 9:16 pm #70343
MikeLittle
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Accelerate the cash into the books of the recipient – so Dr Cash and credit Receivables.

then cancel the reconciled current accounts by reducing receivables and payables
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