Question
On 1 January 2021, Alpha Ltd sold inventory to Beta Ltd for $90 000. The original cost of the inventory was $60 000. Beta Ltd
On 1 January 2021, Alpha Ltd sold inventory to Beta Ltd for $90 000. The original cost of the inventory was $60 000. Beta Ltd treats the inventory in its accounts as a non-current asset.
What would be the consolidation entry to eliminate the intragroup sale ?
Step by Step Solution
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Step: 1
To eliminate the effects of the intragroup sale of inventory between Alpha Ltd and Beta ...
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Advanced Financial Accounting
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
6th edition
013703038X, 978-0137030385
