View the step-by-step solution to:

the acquisition date is on the 1 July 2016.

Hi can you help me find the intragroup transaction for the following:

the acquisition date is on the 1 July 2016.

On 1 March 2018, Son Ltd sold equipment to Parent Ltd for $55 000, this asset having a carrying amount at the time of sale of $60,000. Son Ltd had treated the asset as a depreciable non-current asset, being depreciated at 10% on cost, whereas Parent Ltd records the equipment as inventory. Parent Ltd sold this asset to Beanie Ltd on 15 June 2018 for $61,500.

Top Answer

First you need to understand the intragroup sale results in... View the full answer

  • I hope you find this helpful.
    • jobmatumbai
    • Oct 01, 2018 at 12:47pm
  • Clarification; The sale by Parent to Beanie Ltd is not part of intragroup transactions therefore recorded normally by the parent.
    • jobmatumbai
    • Oct 01, 2018 at 12:50pm

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.


Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online