Question: 14 1 points SAVE ANSWER On 2 June 2020, G Ltd, a parent company sells some inventories to its subsidiary, APM Ltd for $8,000. The

14 1 points SAVE ANSWER On 2 June 2020, G Ltd, a parent company sells some inventories to its subsidiary, APM Ltd for $8,000. The original cost of the inventory to Gog Ltd was $6,000. As at 30 June 2020, APM Ltd has not sold any of the inventories purchased from Gog Ltd. During the year ended 30 June 2020, the group will record a profit of: Oa. $Nil O b. $8,000 c. $6,000 O d. $2,000

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!

1. Label the six phase changes of water on the diagram below (Figure 6.2). Solid Ice Liquid Water Figure 6.2: Phase Changes of Water. (Invisible) Gas Water Vapor

Question 15 1 points SAVE ANSWE On 15 June 2021, Poppy Ltd, a parent company, sells some inventories to its subsidiary, Shelly Ltd for $15,000. The original cost of the inventory to Poppy Ltd was...

8/11/2020 Take Test: Quiz 3 - B6020 - ACCOUNTING (MBA) 2020/2021 ... Institution Page B6020 - ACCOUNTING (MBA) 2020/2021 Trimester 1 CoB (NBS) LI JIERAN Courses Test & Quizzes NTU Tools 13 Help Take...

Kovid Ltd is S Ltd and Huhan Ltd is P Ltd. QUESTION 1 100 MARKS STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE 20.20 Huhan Ltd Kovid Ltd ASSETS Fixed property Plant Gross carrying amount Accumulated...

B GETFIT Ltd, a retail sports equipment company, commenced operations on 10 May 2019 by issuing 200 000 $1.25 shares, payable in full on application on a first-come, first-served basis By 20 June...

You have been presented with the following abridged financial statements of Honda Ltd and Suzuki Ltd for the reporting period ended 30 June 2020. Suzuki Ltd 2 350 000 3 600 000 (1 250 000) STATEMENTS...

B2 GETFIT Ltd, a retail sports equipment company, commenced operations on 10 May 2019 by issuing 200 000 $1.25 shares, payable in full on application on a first-come, first-served basis By 20 June...

Part A Cassie Ltd (Cassie) acquired all issued share capital of Cotter Ltd (Cotter) on 1 July 2019 for a cash payment of $1,100,000. The share capital and retained earnings of Cotter at the date of...

QUESTION 1 100 MARKS STATEMENTS OF FINANCIAL POSITION AS AT 30 JUNE 20.20 Huhan Ltd Kovid Ltd ASSETS Fixed property 196 000 135 800 Plant 17 920 14 000 Gross carrying amount 28 000 35 000 Accumulated...

1. (Points: 1) Managerial accounting: 2. (TCO F) The Colorado Company manufactures a product that goes through three processing departments. Information relating to activity in the first department...

Firewatch Ltd, has been manufacturing and selling fire fighting equipment for the last two years. Firewatch Ltd commenced operations on 1 July, 2017 by issuing 500 000 $3.50 shares, payable in full...

The absolute value of the pitch variation is such that the transmission accuracy level number is 6. The materials are 4340 through-hardened grade 1 steels, heat-treated to 250 Brinell, core and case,...

Derive the expression for the efficiency of the ideal dual cycle given by Eq. 9.23.

Select all that are true with respect to the CAPM Beta. Group of answer choices Beta is a measure of total risk Beta is a measure of systematic risk A Beta of 0 implies that the asset has average...

CT Corp Comprehensive Question Canadian Tire Corporation, Limited (Canadian Tire) is a family of companies that includes a retail segment and a financial services division, among others. The retail...

Which members would you want back in your team and which would you not?

Are these written ground rules?

Have ground rules been established for the team?