Q.2 Relana corporation owned 75% of Shan company and in 25/6/2005 Shan, sold land at $ 60,000 with original cost $ 40,000 to Relana company. In 24/7/2007 Relana company sold the land to outsiders at $ 30,000. Required: Prepare the eliminating for the intercompany transaction for 2005, 2006, and 2007

Q.2 Relana corporation owned 75% of Shan company and in 25/6/2005 Shan, sold land at $ 60,000 with original cost $ 40,000 to Relana company. In 24/7/2007 Relana company sold the land to outsiders at $ 30,000. Required: Prepare the eliminating for the intercompany transaction for 2005, 2006, and 2007

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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