Solved: January 2013 for 25000 both entities charge depreciation at, Taxation

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January 2013 for 25000 both entities charge depreciation at

Claire Ltd owns all the share capital of Lauren Ltd. The following transactions relate to the period ended 30 June 2014. Assuming an income tax rate of 30%, provide adjustment entries to be included in the consolidation worksheet as at 30 June 2014.

Lauren Ltd sold a depreciable asset (carrying amount of $20,800) to Claire Ltd on 1 January 2013 for $25,000. Both entities charge depreciation at a rate of 10% p.a. on cost in relation to these items. On 31 December 2013, Claire Ltd sold this asset to Anna Ltd for $20,000.

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Taxation: January 2013 for 25000 both entities charge depreciation at

Reference No:- TGS0756714

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Taxation: January 2013 for 25000 both entities charge depreciation at

Reference No:- TGS0756714

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