The subsidiary sells second-hand machinery. The parent sold one of its depreciable assets (original cost $130000, accumulated depreciation $104000) to the subsidiary for $11000 on 1 January 2025. The subsidiary had not resold the item by 30 June 2025. Assume an income tax rate of 30%. Prepare the consolidation worksheet adjusting entries for preparation of the consolidated financial statements as at 30 June 2025. ་་ ÷ ÷ = $ = $ = $ = $

The subsidiary sells second-hand machinery. The parent sold one of its depreciable assets (original cost $130000, accumulated depreciation $104000) to the subsidiary for $11000 on 1 January 2025. The subsidiary had not resold the item by 30 June 2025. Assume an income tax rate of 30%. Prepare the consolidation worksheet adjusting entries for preparation of the consolidated financial statements as at 30 June 2025. ་་ ÷ ÷ = $ = $ = $ = $

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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