Question
How would I enter the parent to sub-transaction/downstream transaction as a journal entry when I consolidate these books... On June 2019, SBW sold to CDL
How would I enter the parent to sub-transaction/downstream transaction as a journal entry when I consolidate these books...
On June 2019, SBW sold to CDL a parcel of land for $450,000 The original cost to SBW was $575,000. CDL sold that land in the current year for a profit of $200,000.
I am consolidating the books for Dec 31, 2022. SBW owns 90% of share in CDL.
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lets go through the consolidation process step by step with calculations for the given scenario invo...
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
