During the Year Ended 30 June 2017, a Subsidiary Entity

question 38

Multiple Choice

During the year ended 30 June 2017, a subsidiary entity sold inventories to a parent entity for $30 000. The inventories had previously cost the subsidiary entity $24 000. By 30 June 2017 the parent entity had sold all the inventories to a party outside the group. The company tax rate is 30%. The adjustment entry in the consolidation worksheet at 30 June 2018 is:

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Definitions:

Persona

A Jungian term representing the social face the individual presents to the world, often hiding true feelings or inclinations for conformity or adaptability.

Anima/Animus

Jungian terms for the unconscious feminine side of a man (anima) and the unconscious masculine side of a woman (animus).

Hero

A person admired for their courage, outstanding achievements, or noble qualities, often the protagonist in stories.

Emotionally Charged

Referring to situations or subjects that evoke strong emotional responses.