Wholly Owned Subsidiary Has the Following Balances at Control Date

question 21

True/False

Wholly owned Subsidiary has the following balances at control date 20X1:
$$\begin{array} { l l } \text { Capital } & \$ 500000 \\\text { Asset revaluation reserve } & \$ 200000 \\\text { Retained profits } & \$ 100000\end{array}$$
During 20X2 Subsidiary generates $100 000 profits and revalues plant downwards by $375 000.The 20X2 profit is before any impact of the downward asset revaluation.The asset revaluation reserve all relates to previous revaluation of plant.
During 20X3 Subsidiary incurs $50 000 of losses.
The amount of accumulated losses included in the consolidation for 20X3 (that is, not eliminated) is $125 000.

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Definitions:

Chromosomes

Thread-like structures located inside the nucleus of animal and plant cells, made of protein and a single molecule of DNA that carries genetic information.

Genomes

The complete set of DNA in an organism, encompassing all of its genes and the sequences that regulate their expression.

Genetic Predispositions

The inherited genetic patterns that influence the likelihood of developing certain traits or conditions.

Human Diversity

The vast range of differences among humans, including those related to race, ethnicity, gender, age, disability, sexual orientation, and cultural background.