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Assets of Argus Ltd Include a Plot of Land Purchased $\quad$

question 1

Multiple Choice

Assets of Argus Ltd include a plot of land purchased for $40 000.On 1 January 20X0 Argus became a subsidiary of Cyclops Ltd.The land was sold on 30 March 20X9 for $350 000.The land's fair value at the following dates was:
1 January 20X0 $\quad$ $\quad$ $\quad$ $100 000
31 December 20X3 $\quad$ $\quad$ $270 000
31 December 20X6 $\quad$ $\quad$ $240 000
31 December 20X8 $\quad$ $\quad$ $360 000
The group applies the cost model.The carrying amount of the land immediately before control date is $40 000.
What is the correct consolidation data adjustment entry for 31 December 20X9?

Definitions:

Real Rate Of Interest

The interest rate adjusted for inflation, indicating the true cost of borrowing or the true yield on an investment.

Bushels

A unit of volume that is commonly used in agriculture for measuring quantities of grain, fruit, and other dry commodities.

Consume

The use of goods and services by households or individuals, typically referring to the act of buying and using products.

Harvest

The process of gathering mature crops from the fields.

Assets of Argus Ltd Include a Plot of Land Purchased \quad

Definitions:

Assets of Argus Ltd Include a Plot of Land Purchased $\quad$