On 1 July 2023, Supplyco Ltd provides Grove Ltd with some inventory, which has a fair value
Question:
On 1 July 2023, Supplyco Ltd provides Grove Ltd with some inventory, which has a fair value of $200 000. In exchange for the inventory, Grove Ltd provides Supplyco Ltd with 20 000 shares in Grove Ltd.
REQUIRED
Provide the accounting entry to account for the above equity settled share-based transaction.
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