I wont solve Q.1Relana corporation owned 75% of Shan company and in 25/6/2005 Relana, soldland at $ 60,000 with original cost $ 40,000 to Shan company.In 24/7/2007 Shan company sold the land to outsiders at $ 80,000.Required:Prepare the eliminating for the intercompany transaction for 2005, 2006, and 2007

Relana owned 75% of Shan Co. which means Relana Co is holding…

Answered: Relana corporation owned 75% of Shan…

Business

Accounting

Relana corporation owned 75% of Shan company and in 25/6/2005 Relana. Shon company.

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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Question

I wont solve

Q.1
Relana corporation owned 75% of Shan company and in 25/6/2005 Relana, sold
land at $ 60,000 with original cost $ 40,000 to Shan company.
In 24/7/2007 Shan company sold the land to outsiders at $ 80,000.
Required:
Prepare the eliminating for the intercompany transaction for 2005, 2006, and 2007

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