Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. p ltd acquired 70% of s ltd on 1 july 2019. on 1 j

P Ltd acquired 70% of S Ltd on 1 July 2019. On 1 January 2020,...

70.2K

Verified Solution

Question

Accounting

P Ltd acquired 70% of S Ltd on 1 July 2019. On 1 January 2020, P Ltd sold a machine with a carrying amount of N$20,000 to S Ltd for N$30,000. The machine had a remaining useful life of 4 years and is depreciated on a straight-line basis. Required: Prepare consolidation journal entries for 31 December 2022 financial year

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Read the discussion questions below, select one, and post a comment of at least 150 words....

Finance
Q

QUESTION 7 In a study of 420,095 Danish cell phone users, 135 subjects developed cancer of the...

Statistics
Q

An advisory practice was the target of an attack, whereby the malware allowed the fraudster to...

Programming
Q

Hi, could you provide an explantion for the following questions please in relation to the decision...

General Management
Q

A horizontal venturimeter with inlet diameter 200 mm and throat diameter 100 mm is employed...

Physics
Q

If you make a payment of $200 at the end of each month into an...

Basic Math
Q

photer Bxed on the intormation below, what amount should be recorded...

Accounting
Q

Dwight Donovan, the president of Donovan...

Accounting
Q

what amount should an individual have in a bank account today before withdrawl...

Accounting
Q

98. The following information is for X Company's two products - A and B: ...

Accounting
Q

Kircher Clothing, Inc. manufactures two styles of jackets: standard, which sell for $45, and waterproof,...

Accounting
Q

Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31...

Accounting