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In May 20X7,a Parent Entity Sold Inventory to a Subsidiary

Question 16

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In May 20X7,a parent entity sold inventory to a subsidiary entity for $30 000.The inventory had previously cost the parent entity $24 000.The entire inventory is still held by the subsidiary at reporting date,30 June 20X7.Ignoring tax effects,the adjustment entry in the consolidation worksheet at reporting date is:


A) In May 20X7,a parent entity sold inventory to a subsidiary entity for $30 000.The inventory had previously cost the parent entity $24 000.The entire inventory is still held by the subsidiary at reporting date,30 June 20X7.Ignoring tax effects,the adjustment entry in the consolidation worksheet at reporting date is: A) B) C) D)
B) In May 20X7,a parent entity sold inventory to a subsidiary entity for $30 000.The inventory had previously cost the parent entity $24 000.The entire inventory is still held by the subsidiary at reporting date,30 June 20X7.Ignoring tax effects,the adjustment entry in the consolidation worksheet at reporting date is: A) B) C) D)
C) In May 20X7,a parent entity sold inventory to a subsidiary entity for $30 000.The inventory had previously cost the parent entity $24 000.The entire inventory is still held by the subsidiary at reporting date,30 June 20X7.Ignoring tax effects,the adjustment entry in the consolidation worksheet at reporting date is: A) B) C) D)
D) In May 20X7,a parent entity sold inventory to a subsidiary entity for $30 000.The inventory had previously cost the parent entity $24 000.The entire inventory is still held by the subsidiary at reporting date,30 June 20X7.Ignoring tax effects,the adjustment entry in the consolidation worksheet at reporting date is: A) B) C) D)

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