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A Ltd Sold an Item of Plant to B Ltd

Question 1

Multiple Choice

A Ltd sold an item of plant to B Ltd on 1 January 20X7 for $25 000. The asset had cost A Ltd $30 000 when acquired on 1 January 20X5. At that time the useful life of the plant was assessed at 6 years. The consolidation elimination entries at 30 June 20X7 in relation to the sale of plant is (rounded to nearest dollar) :

A) A Ltd sold an item of plant to B Ltd on 1 January 20X7 for $25 000. The asset had cost A Ltd $30 000 when acquired on 1 January 20X5. At that time the useful life of the plant was assessed at 6 years. The consolidation elimination entries at 30 June 20X7 in relation to the sale of plant is (rounded to nearest dollar) : A) B) C) D)
B) A Ltd sold an item of plant to B Ltd on 1 January 20X7 for $25 000. The asset had cost A Ltd $30 000 when acquired on 1 January 20X5. At that time the useful life of the plant was assessed at 6 years. The consolidation elimination entries at 30 June 20X7 in relation to the sale of plant is (rounded to nearest dollar) : A) B) C) D)
C) A Ltd sold an item of plant to B Ltd on 1 January 20X7 for $25 000. The asset had cost A Ltd $30 000 when acquired on 1 January 20X5. At that time the useful life of the plant was assessed at 6 years. The consolidation elimination entries at 30 June 20X7 in relation to the sale of plant is (rounded to nearest dollar) : A) B) C) D)
D) A Ltd sold an item of plant to B Ltd on 1 January 20X7 for $25 000. The asset had cost A Ltd $30 000 when acquired on 1 January 20X5. At that time the useful life of the plant was assessed at 6 years. The consolidation elimination entries at 30 June 20X7 in relation to the sale of plant is (rounded to nearest dollar) : A) B) C) D)

A Ltd Sold an Item of Plant to B Ltd

Multiple Choice

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