Ying Ltd owns all of the shares of Yang Ltd

Subject:AccountingPrice:2.84 Bought6

Share With

Ying Ltd owns all of the shares of Yang Ltd. In relation to the following intragroup transactions, all parts of which are independent unless specified, prepare the consolidation worksheet adjusting entries for preparation of the consolidated financial statements as at 30 June 2020. Assume an income tax rate of 30%.

Part C

In the 2018-19 period, Yang Ltd sold land to Ying Ltd at $150?000 above cost. The land is still held by Ying Ltd. (3 marks)