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Parent company account is the parent's company in consolidated financial statments where parent and child relationship exists in group accounting.
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How does someone close there bank account if they are under the age of 18 and will they need the parent that opened the bank account with them when they go to close it?
Most likely, the parent who opened the account is the custodian of the account and is technically the only person who can make major changes, including closing the account. Therefore, the parent who opened the account will need to visit a local branch to close the account.
What is equity earnings?
Also called indirect, unreported, or undisclosed earnings, that part of the surplus earnings of a subsidiary company, over and above dividend payments, not reported by the parent company. Most of the large corporations hold or control through full, majority, joint (half, third, quarter, etc.) or minority stock ownership in subsidiary is or affiliated companies. Unless the ownership of such subsidiary is a majority interest, the parent company cannot under proper accounting principles consolidate the earnings of a subsidiary or subsidiaries in the income account of the parent company, but only such part of such earnings as may be actually paid to the parent organization as dividends. When earnings of subsidiaries are consolidated in the income account of the parent organization, the proportion of earnings applicable to the minority interest must be deducted.
What is the accounting double entry when a company declare or pay dividend to its holding overseas company with 10 percent local withholding tax rate?
Let's say the dividend payable is $110. When the dividend is declared (eg the decision is made to pay a dividend but the dividend and tax won't be paid until, say, the first day of next month) then the entry is: Debit "Dividends Expense" (Expense Account) $110 Credit "Dividend Payable Parent Company" (Liability Account) $100 Credit "Dividend Tax Withheld" (Liability Account) $ 10 When the dividend and Tax is actually paid (eg it is now the first day of next month) the entry is: Debit "Dividend Payable Parent Company" (Liability Account) $100 Debit "Dividend Tax Withheld" (Liability Account) $ 10 Credit "Bank Account" (Asset Account) $110
How do you recognize account payable?
Account payable is an account that is a Liability (current). When a person or company owes another company money on account, that is an account payable.
What is the cash account in a company's ledger?
The cash account in the company's ledger is Bank.
Can a parent give a child a monetary gift from their company account?
A parent can give a child a monetary gift from their company account. However, they will have to account for this as a business expense in their books. It can become confusing when it is time to figure profit and loss as well as taxes.
How do you make a parent account on pixie hollow?
You have to have a real account then you go into the Account Manager and select "Create a Parent Account" and you must be a parent.
Is the parent account in Roblox free?
Yes, a parent account is free.
Who is the parent company of Apple?
Apple does not have a parent company. It is a parent company, which is a large company that owns smaller companies.
What is Pepsi's parent company?
PepsiCo is the parent company of Pepsi.
Does Tmobile have a parent company and if so who is it?
Tmobile does have a parent company. It is a German parent company called Deutsche Telekom.
Is it possible to receive an inheritance from a deceased parent from a fund that was not left in a will?
Yes. The fund may have been in your parent's name at death in a "Payable on Death" account where your parent named a beneficiary directly with the company or bank that held the funds.
When a company has a parent company does the employee work for the parent company?
The employee works for the daughter company.
What is the parent company of converse?
The parent company is Allied Corporation.
What is the parent company of dell?
the parent company of dell is unknown
What is the parent company of tilex?
The answer for what is tilex's parent company is Clorox
What is the parent company of haier?
Haier Group Company is parent company to Haier America
