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Disposal of subsidiary-unrealised gain on PPE

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Disposal of subsidiary-unrealised gain on PPE

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
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    Posts
  • March 18, 2021 at 5:43 am #614647
    amiirs
    • Topics: 23
    • Replies: 2
    • ☆

    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!

    March 18, 2021 at 11:32 am #614670
    Stephen Widberg
    Moderator
    • Topics: 10
    • Replies: 2529
    • ☆☆☆☆☆

    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.

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