A Ltd holds a 60% interest in B Ltd.B Ltd sells inventory to A Ltd during the year for $10 000.The inventory originally cost $7 000.At the end of the year 50% of the inventory is still on hand.The tax rate is 30%.The NCI adjustment required in relation to this transaction is a debit of:
A) NIL
B) $420
C) $630
D) $1 050.
Correct Answer:
Verified
Q1: When preparing a consolidated statement of changes
Q3: A non-controlling interest is entitled to a
Q4: Company A Limited owns 90% of the
Q5: A Ltd holds a 60% interest in
Q6: A Ltd holds a 60% interest in
Q8: Petros Limited is a subsidiary of Butros
Q9: Jiminez Limited acquired 80% of the share
Q10: According to AASB 10 Consolidated Financial Statements,the
Q11: Lu Nan Limited acquired 80% of the
Q33: When preparing consolidated financial statements, any profit
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents