- This topic has 0 replies, 1 voice, and was last updated 8 years ago by
.
- Posts
Company A has been in existence for sometime and floated another company B for the last 3 year. Not to make the account of company B idle, company A thought of transacting it business of investment through company B. Company A is a trading and service company and company B is a research company.
In the course of putting the books of company B together, it was discovered the proper books were not kept.
Based on information available at the point of collating record/data, we have the following:
12/09/2014 an inflow from investment bank of $25,000,000
19/09/2014 an inflow from investment bank of $49,000,000
09/12/2013 an outflow of $30,000,000
10/04/2014 an outflow of $40,000,000
After netting the two sets of transactions, there is a balance of $4,000,000.
Expatiate the best way to treat the $4,000,000
Note: the investment ranges between 30-90 days
- You must be logged in to reply to this topic.