Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 2 triangle ltd specialises in building hi

Question 2 Triangle Ltd specialises in building high quality...

60.1K

Verified Solution

Question

Accounting

image
Question 2 Triangle Ltd specialises in building high quality executive flats in city centres. On1 March 20X6 it sells a plot of building land to Finance plc, an unconnected company, for 1.5m. Triangle Ltd retains rights of access and supervision over the plot, the right to build on this land until 28 February 20X8 and the right to buy the plot back again on that date for 1.9m. On 1 March 20X6 the plot is valued at 2.5m. Explain how this sale transaction would be dealt with in Triangle Ltd's financial statements for the year ended 28 February 20X7

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

Use the least squares regression equation to predict the value of y for x 4...

Accounting
1.2K views

Explain the term accrual accounting and how it is used ingovernmental, not for profit...

Psychology
1.2K views

How does Andrew Jackson represent both the promise and contradictions of freedom during this time period?...

Biology
1.2K views

The head of an infant grows significantly during the first four months of their life....

Physics
1.2K views

Q11 Agas is taken through an adiabatic process in which the volume changes from an...

Algebra
1.2K views

Sketch the graph of the piecewise defined function see belov f x 2 x 1...

Algebra
1.2K views

snowflake gets blown sideways 2 ft for every 4 ft it falls downward In one...

Accounting
1.2K views

M. Michael and S. Colier combine their individual sole proprietorships to start the Michael -...

Accounting
1.2K views

Metlock Corporation is preparing a bank reconciliation and has identified the following potential reconciling items....

Accounting
1.2K views

Accounting
1.2K views

4 Information on four investment proposals is given below: \table[[,Investment Proposal],[,A,B,C,D],[Investment required,$(190,000),$(180,000),$(170,000),$(900,000)

Accounting
1.2K views

Required infarmation The following iniomiation applies to the guespons displayed below] A manufactured product has...