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X Co transfers an asset which had a cost of $10,000 to its wholly owned subsidiary Y Co in 20X1. The transfer price was $15,000. Both companies charge straight line depreciation at 10% p.a. A full year’s charge is made in the year of acquisition and none in the year of disposal. X Co had owned the asset for 5 years prior to the disposal period. What is the net adjustment required to group profit? The net adjustment to group profit will be: $________ |