Question
ABC Ltd sold an item of plant to its subsidiary, DEF Ltd, on 1 January 2019 for $50000. The asset had cost ABC Ltd $60000
ABC Ltd sold an item of plant to its subsidiary, DEF Ltd, on 1 January 2019 for $50000. The asset had cost ABC Ltd $60000 and had an useful life of 6 years when acquired on 1 January 2017 from an external party. The adjustment necessary on consolidation in relation to the transfer of plant as at 30 June 2019 will result in:
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
