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Mini Limited sold inventories to its parent entity, Maxi Ltd, at a before-tax profit of $16 000. The inventories originally cost Mini Limited $64 000.
Mini Limited sold inventories to its parent entity, Maxi Ltd, at a before-tax profit of $16 000. The inventories originally cost Mini Limited $64 000. At balance sheet date, Maxi Limited had sold 90% of the inventory to an external party. The consolidation adjustment entry (excluding tax effects) will eliminate unrealised profit amounting to
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Managerial Decision Modeling Business Analytics With Spreadsheet
Authors: Nagraj Balakrishnan, Barry Render, Ralph Stair, Charles Munson
4th Edition
1501515101, 978-1501515101
