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Stephen Widberg.
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amiirs
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Hi!
I have a scenario whereby during the year ended 31 dec 2019, the parent disposed of a PPE to its subsidiary at a profit of let’s say $1,000.As such, this unrealised gain has been canceled out during the y/e 2019.
However, during 2020, the subsidiary has been fully disposed of.
Grateful if someone could clarify me as the accounting entries iro the unrealised profit previously cancelled out in 2019. Thanks!
Stephen Widberg
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I assume that this is not a real world example – we don’t give advice in those situations.
If it is an exam question please let me know which one.
amiirs
Stephen WidbergViewing 2 posts - 1 through 2 (of 2 total)
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