A Ltd purchased inventory from its subsidiary, B Ltd, for $19000. The goods originally cost B Ltd $ 15000. The company tax rate is 30 %. Assuming that 70% of the inventory was still on hand at the end of the year, what are the related tax effect adjustments on the consolidation worksheet?

A Ltd purchased inventory from its subsidiary, B Ltd, for $19000. The goods originally cost B Ltd $ 15000. The company tax rate is 30 %. Assuming that 70% of the inventory was still on hand at the end of the year, what are the related tax effect adjustments on the consolidation worksheet?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

A Ltd purchased inventory from its subsidiary, B Ltd,
for $19000. The goods originally cost B Ltd $ 15000.
The company tax rate is 30 %. Assuming that 70% of
the inventory was still on hand at the end of the year,
what are the related tax effect adjustments on the
consolidation worksheet?

Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.

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