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Inter-Company Journal Entries Accountant Forums

Oct 11, 2019 · Hello, I'd like to know if my inter-company journal entries for recording an expense paid on behalf of a wholly owned subsidiary is correct. Note, that the sub has it's own set of books. Let's say the parent company is paying rent for their subsidiary company by transferring cash to the...…

Intercompany Transfer of Depreciable Assets Accounting

In Entry *TA, note that the Investment in Baker account replaces the parent’s Retained Earn­ings. The debit to the investment account effectively allocates the write-down necessitated by the intercompany transfer to the appropriate subsidiary equipment and accumulated deprecia­tion accounts.…

Transfer pricing and its effect on financial reporting

This article examines the relationship between transfer pricing and an entity’s tax and financial reporting. Due to increased IRS audit procedures, transfer pricing has become one of the riskiest areas for multinational corporations from both a compliance and tax planning perspective. Amazon, AOL, Adobe, Hewlett-Packard, Microsoft, and other multinationals have…