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.

Fantastic news! We've located the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question
Question Posted: