Examlex
During the year ended 30 June 2017, a subsidiary sold inventories to a parent for $90 000. The inventories had previously cost the subsidiary entity $72 000. By 30 June 2017 the parent had sold 75% of the inventories to a party outside the group. The remaining inventories were sold externally in July 2017. The company tax rate is 30%. Which of the following is the adjustment entry in the consolidation worksheet at 30 June 2018?
Marginal Tax Rate
The rate at which an additional dollar of income would be taxed, giving insight into the impact of potential income increases on one's tax burden.
Cash Operating Costs
Expenditures directly related to the day-to-day business operations, excluding non-cash costs.
Depreciated
Refers to a reduction in the value of an asset over time, typically due to wear and tear or obsolescence.
Marginal Tax Rate
The tax rate that applies to the last dollar of the taxpayer's income or the next dollar of taxable income earned.
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