Question: During the year ended 3 0 June 2 0 1 9 , a subsidiary entity sold inventories to a parent entity for $ 8 0

During the year ended 30 June 2019, a subsidiary entity sold inventories to a parent entity for $80000. The
inventories had previously cost the subsidiary entity $36000. By 30 June 2019 the parent entity had sold
55% of the inventories to a party outside the group. The company tax rate is 30%. The adjustment entry in
the consolidation worksheet at 30 June 2020 is:
Answer:
During the year ended 30 June 2019, a subsidiary entity sold

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