In October 2017, Parent Limited sold goods to Subsidiary Limited with an invoice value of 400,000, on
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In October 2017, Parent Limited sold goods to Subsidiary Limited with an invoice value of 400,000, on which Parent Limited made a mark-up of 25%. One half of these goods remained in Subsidiary Limited’s inventory at 31 December 2017. There was no other trading between the two companies during 2017.
Requirement Prepare the adjustments required.
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Related Book For
International Financial Accounting And Reporting
ISBN: 9781912350025
6th Edition
Authors: Ciaran Connolly
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