Oil & Gas
Non-Operator — Share of JV Development Capex
Recording the non-operator's proportional share of development capex based on the JV billing statement.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Development Assets (JV Share — PPE) | Asset (+) | 7,500,000.00 | - |
| JV Advance (Reclassified from Advance) | Asset (-) | - | 7,500,000.00 |
💡 Accountant's Note
When the non-operator receives the JV billing statement, the previously paid cash call advance is reclassified to the appropriate asset (PPE, E&E, or expense) based on the nature of each cost line in the statement.
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