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Parent Ltd owns all the share capital of Subsidiary Ltd. On 23 September 2018, Subsidiary Ltd sold inventory which cost $25 000 to Parent Ltd
Parent Ltd owns all the share capital of Subsidiary Ltd. On 23 September 2018, Subsidiary Ltd sold inventory which cost $25 000 to Parent Ltd for $65 000. By 30 June 2019, all these inventories have been sold. Required Please complete the following worksheet entries required for the preparation of the consolidated financial statements at 30 June 2019. (Click on the right answer, then drag and drop into the answer box). DR CR No Answers Chosen No Answers Chosen Possible answers Cost of Goods Sold 25,000 Income Tax Expense 12,000 Sales Revenue 65,000 Deferred Tax Assets 12.000 Cost of Goods Sold 65,000 Inventory 40,000
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