A subsidiary entity sold inventory to a parent entity for $30 000. The inventory had previously cost the subsidiary entity $24 000. By reporting date, the parent entity had sold 75% of the inventory to a party outside the group. The company tax rate is 30%. 

What would be the adjustment entry in the consolidation worksheet at reporting date ?

Answer rating: 100% (QA)

In this case the subsidiary sold inventory to the parent company 30000 hence ... View the full answer