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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.

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

2 comments
  • 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

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