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Abra Ltd Sold an Item of Plant to Its Subsidiary

Question 26

Multiple Choice

Abra Ltd sold an item of plant to its subsidiary Cadabra Ltd on 1 January 2017 for $50 000.The asset had cost Abra Ltd $60 000 when acquired on 1 January 2015.At that time the useful life of the plant was assessed at 6 years.Rounded to the nearest dollar,the consolidation elimination entries at 30 June 2017 in relation to the sale of plant are which of the following?


A) Abra Ltd sold an item of plant to its subsidiary Cadabra Ltd on 1 January 2017 for $50 000.The asset had cost Abra Ltd $60 000 when acquired on 1 January 2015.At that time the useful life of the plant was assessed at 6 years.Rounded to the nearest dollar,the consolidation elimination entries at 30 June 2017 in relation to the sale of plant are which of the following? A) B) C) D)
B) Abra Ltd sold an item of plant to its subsidiary Cadabra Ltd on 1 January 2017 for $50 000.The asset had cost Abra Ltd $60 000 when acquired on 1 January 2015.At that time the useful life of the plant was assessed at 6 years.Rounded to the nearest dollar,the consolidation elimination entries at 30 June 2017 in relation to the sale of plant are which of the following? A) B) C) D)
C) Abra Ltd sold an item of plant to its subsidiary Cadabra Ltd on 1 January 2017 for $50 000.The asset had cost Abra Ltd $60 000 when acquired on 1 January 2015.At that time the useful life of the plant was assessed at 6 years.Rounded to the nearest dollar,the consolidation elimination entries at 30 June 2017 in relation to the sale of plant are which of the following? A) B) C) D)
D) Abra Ltd sold an item of plant to its subsidiary Cadabra Ltd on 1 January 2017 for $50 000.The asset had cost Abra Ltd $60 000 when acquired on 1 January 2015.At that time the useful life of the plant was assessed at 6 years.Rounded to the nearest dollar,the consolidation elimination entries at 30 June 2017 in relation to the sale of plant are which of the following? A) B) C) D)

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