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PEM Ltd owns 35% of ALK Ltd. During the current financial year PEM Ltd sold goods to ALK Ltd for Tk300,000 on which its gross
PEM Ltd owns 35% of ALK Ltd. During the current financial year PEM Ltd sold goods to ALK Ltd for Tk300,000 on which its gross margin was 40%. ALK Ltd held Tk50,000 of these goods in its inventories at the year end. Show the journal entries necessary to adjust for the PURP in PEM Ltd's consolidated balance sheet and set out the adjustments necessary to PEM Ltd's consolidated income statement
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Thomas Calculus Early Transcendentals
Authors: Joel R Hass, Christopher E Heil, Maurice D Weir
13th Edition
978-0321884077, 0321884078
