A Subsidiary Sold Inventory to Its Parent for $60 000

question 9

Multiple Choice

A subsidiary sold inventory to its parent for $60 000.The inventory had previously cost the subsidiary $48 000.By reporting date,the parent had sold 75% of the inventory to a party outside the group.The company tax rate is 30%.Which of the following are the adjustment entries in the consolidation worksheet at reporting date?

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Definitions:

Alzheimer's Diseases

A progressive neurodegenerative disease characterized by memory loss, cognitive decline, and personality changes, leading to severe dementia.

Parkinson's Diseases

A chronic and progressive movement disorder characterized by the degeneration of nerve cells in the part of the brain that controls movement.

Acute Disease

A disease characterized by a sudden onset and a short, but typically severe, course of duration.

Hospitalized

Being admitted to a hospital for treatment, observation, or care for a health condition or after experiencing a medical incident.