Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The lid owns all the share capital of Shrub Ltd. Tree Led sold inventory to Shrub Ltd on 15 May 2020 for $55,000. This Inventory

image text in transcribed
The lid owns all the share capital of Shrub Ltd. Tree Led sold inventory to Shrub Ltd on 15 May 2020 for $55,000. This Inventory had cost Tree $30,000. At 30 June 2020 all of the inventory is still held by Shrub. Shrub Ltd paid for half of the Inventory on 31 May 2020 and will pay for rest on 1 July 2020. Ignore tax 05-84 In relation to the above intra group transaction, prepare adjusting journal entries for the consolidation worksheet at 20 June 2020. marks Unanswered 05-B-11 Explain why you made each adjusting journal entry 5 mars

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: C. William Thomas, Wendy M Tietz

13th Edition

013689903X, 9780136899037

More Books

Students also viewed these Accounting questions

Question

Interpret the results from Exercises 9.119.13.

Answered: 1 week ago

Question

Be able to schedule and conduct a performance appraisal interview

Answered: 1 week ago

Question

Know the two most common approaches to appraisal timing

Answered: 1 week ago