Question: 13. a b A parent entity sold a depreciable non-current asset to a subsidiary entity for $5 600. The asset originally cost $6 000 and

13. a b A parent entity sold a depreciable non-current asset

13. a b A parent entity sold a depreciable non-current asset to a subsidiary entity for $5 600. The asset originally cost $6 000 and at the date of sale accumulated depreciation was $1 000. The amount of the unrealised gain on sale to be eliminated is: $5 600. $1 000. $600. $400. d

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Multiple choice 13. a b A parent entity sold a depreciable non-current asset to a subsidiary entity for $5 600. The asset originally cost $6 000 and at the date of sale accumulated depreciation was...

Question text Unity Limited acquired 100% of the share capital of Bellvista Limited. Bellvista had issued share capital of $200 000. The book values of Bellvista Limiteds assets were: buildings $100...

Question 17 0.5 pts Louis Limited acquired 70% of the share capital and reserves of Lochland Limited for $400 000. Share capital was $200 000 and reserves amounted to $300 000. All assets and...

1 - Buddy Limited acquired 80% of the Share capital and Reserves of Gear Limited for $20,000. Share capital was $10,000 and Reserves amounted to $5,000. All assets and liabilities were recorded at...

Multiple choice 1. During the year, a parent has sold $75,000 worth of goods to the subsidiary, which had cost the parent $35,000. At balance date, 50% of these goods were still in the subsidiary's...

Multiple choice 1. Which of the following statements is not correct regarding preparing consolidated financial statements? a) The subsidiary's investment in each parent is offset against the...

1) Assume that on 01/10/2020, Parent Ltd purchased equipment for $90,000 from Sub Ltd. The equipment had originally been purchased by Sub Ltd on 01/01/2017 for $130,000. Both follow IRD rules for...

5. A company has trade receivables in its year-end Statement of Financial Position of RM218,603. Revenue for the year was RM1,703,698; where 70% of this figure was sales on credit. What is trade...

On 5 June 2022 , a parent entity sold inventories to a subsidiary entity for $80. The inventories had previously cost the parent entity $72. All the inventories are still held by the subsidiary at...

Answers to all ten questions please!! On 5 June 2022 , a parent entity sold inventories to a subsidiary entity for $80. The inventories had previously cost the parent entity $72. All the inventories...

A reversible engine working between two reservoirs at temperatures Th and Tc has an efficiency of 20%. Working as a heat engine, it does 100 J of work in each cycle. A second engine working between...

Use the following data to calculate (a) The labor force participation rate, (b) The unemployment rate, (c) The employment/population ratio. Population age 16 and over ........15,000 Labor...

You have an Active Directory forest named csmtech.local and two Active Directory domains in the forest named csmpub.local and csmsales.local. You want the DNS servers in each domain to be able to...

Which of Hofstedes dimensions analyzed the relationship between work and gender roles? Power distance Masculinity versus femininity Long-term orientation Time orientation 2. Hofstede's study isolated...

State the distribution (in percentage terms) for the (a) customer service department and (b) warehouse. Starting with the customer service department, list the percentages in order from outstanding...

What are some of the limitations of the selected approach for appraising job performance? Be sure to answer this question using your selected job as a frame of reference.

What would you do?