The following shares were held by Roxby Pty Ltd at 30 June 2019. 1. Prepare the journal
Question:
The following shares were held by Roxby Pty Ltd at 30 June 2019.
1. Prepare the journal entry for 30 June 2019 to reduce the shares to the lower of cost or net realisable value.
2. What is the reasoning behind this entry? How would it be reflected in the financial statements?
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To prepare the journal entry for 30 June 2019 to reduce the shares to the lower of cost or net realizable value you would need to recognize an impairm...View the full answer
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Related Book For 
Financial Accounting An Integrated Approach
ISBN: 9780170411028
7th Edition
Authors: Ken Trotman, Elizabeth Carson
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