Solved: B ltd sold 10000 worth of inventory to p ltd at a profit, Accounting Basics

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B ltd sold 10000 worth of inventory to p ltd at a profit

Question - B Ltd sold $10000 worth of inventory to P Ltd at a profit before tax of $5000. The inventory is still on hand at the end of the current year.

(1) Why Adjustment to NCI in B Ltd, we need cr. NCI share of Profit?

(2) IF P Ltd holds shares in A Ltd which holds shares in B Ltd, and A ltd sold $10000 worth of inventory to P Ltd at a profit before tax of $5000, what adjustment to NCI in A Ltd?

(3) What does NCI SHARE OF PROFIT MEAN?

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Accounting Basics: B ltd sold 10000 worth of inventory to p ltd at a profit

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Accounting Basics: B ltd sold 10000 worth of inventory to p ltd at a profit

Reference No:- TGS02780753

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