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In May 2019, a parent sold inventories to a subsidiary entity for $60 000. The inventories had previously cost the parent entity $48 000. The
- In May 2019, a parent sold inventories to a subsidiary entity for $60 000. The inventories had previously cost the parent entity $48 000. The entire inventory is still held by the subsidiary at reporting date, 30 June 2019.
- Ignoring tax effects, record the adjustment entry at reporting date.
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Modern Advanced Accounting In Canada
Authors: Hilton Murray, Herauf Darrell
7th Edition
1259066487, 978-1259066481
