1 - Which of the following intragroup transactions do not affect the carrying amounts of assets and liabilities?

Sale of inventory at a loss.

Sale of plant at a profit.

Management fees paid.

Sale of land for an amount greater than its carrying amount.

2 - A parent entity in a group sold a depreciable non-current asset to a subsidiary entity for $11,800. The asset originally cost $10,000 and at the date of sale accumulated depreciation was $1,000. The amount of the unrealised gain on sale to be eliminated is:

$1,800

$1,100

$11,800

$2,800

3 - Good Limited provided a loan of $900,000 to its subsidiary Catch Limited. On consolidation, which of the following adjustments is needed in relation to this intragroup loan?

No adjustment needed.

DR Loan payable to parent$900,000

CR Cash$900,000

DR Loan payable from parent$900,000

CR Loan receivable from subsidiaries$900,000

DR Loan receivable from subsidiaries$900,000

CR Loan payable to parent$900,000