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Problem - Parent Ltd owns all the share capital of Subsidiary Ltd. On 1 January 2018, Parent Ltd sold an item of plant to Subsidiary Ltd for $50 000. This plant had a carrying amount to Parent Ltd of $30 000 and was considered by Subsidiary Ltd to have a further 5-year useful life. The tax rate is 30%. What is the amount of adjustment required for the consolidated 'accumulated depreciation' in relation to this plant when preparing the consolidated financial statements at 30 June 2018?
On October 5, Iverson Company buys merchandise on account from Lasse Company. The selling price of the goods is $5,000, and the cost to Lasse Company is $3,000.
Purchases land having a fair value of $336,000 by issuing a 4-year, zero-interest-bearing promissory note in the face amount of $592,147.
Using the company you selected for the Week 3 discussion,(Amazon company) analyze the Statement of Retained Earnings for that company.
Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows.
You researched Jersey Kids Corp on Yahoo Finance, How much would expect the current stock price of Jersey Kids Corp to be in 2021?
You recently landed your dream job working for the state as an accountant. You are given the task to research several state and local governmental financial accounting issues.
Which statements is correct regarding the auditor's use of a "specialist"? Any such specialist must be approved in advance by management.
List the reasons often cited for the use of variable costing as the cost base in cost-plus pricing formulas. What is primary disadvantage of basing cost plus
Operating Cash Flow. In comparing accounting net income and operating cash flow, what two items do you find in net income that are not in operating cash flow?
my text book does not explain how to enter transactions but we are required to do so in this format cash accounts
No other assets were purchased during year 7. What depreciation convention must Stem use for the machine purchased in February year 7
Wild Bill & Company estimates the following for 2018: Sales (all on account) $800,000. Make a cash budget to determine the ending cash balance for 2018
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