P Co had direct and indirect interests in the following companies as at 1 January 20x0:

On 1 January 20x0, a transfer of fixed assets was made as follows:

Required
Show the equity accounting and consolidation adjustments as at 31 December 20x0 and 31 December 20x1 under each of the two alternative situations below:
1. Transfer is made from S Co to A Co;
2. Transfer is made from B Co to P Co.
Recognize a full-year depreciation and tax effects at 20%.

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Companies S Co A Co B Co Direct investor P Co P Co S Co Percentage ownership 70% 40% 90%