In May 20X7,a parent entity sold inventory to a subsidiary entity for $30 000.The inventory had previously cost the parent entity $24 000.The entire inventory is still held by the subsidiary at reporting date,30 June 20X7.Ignoring tax effects,the adjustment entry in the consolidation worksheet at reporting date is:

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The Answer of In May 20X7,a parent entity sold inventory to a subsidiary entity for $30 000.The inventory had previously cost the parent entity $24 000.The entire inventory is still held by the subsidiary at reporting date,30 June 20X7.Ignoring tax effects,the adjustment entry in the consolidation worksheet at reporting date is:

In May 20X7,a Parent Entity Sold Inventory to a Subsidiary