On December 31, 2020 ABC Parent company sold land costing SR 50,000 to its 100%...
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Accounting
On December 31, 2020 ABC Parent company sold land costing SR 50,000 to its 100% owned Z Subsidiary for SR 90,000 and sold to external party for SR 100,000 in 2021.(2.5 marks) Required:
1. Pass Equity Method Journal Entries in ABC Parents records in 2020 and 2021.
2. Pass Consolidation Entries in 2020 and 2021.
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