Cameron Ltd acquired a 60% holding in Gambia many years ago. At 31 December 2019 Cameron held inventories with a carrying amount of $10,000, purchased from Gambia at cost plus 20%. What is the effect of the above transaction on the consolidated statement of profit or loss for the year ended 31 December 2019? a. Profit attributable to Owners of Cameron Ltd Reduce by $1,000 Profit attributable to Non- controlling interest - Reduce by $667 b.

Cameron Ltd acquired a 60% holding in Gambia many years ago. At 31 December 2019 Cameron held inventories with a carrying amount of $10,000, purchased from Gambia at cost plus 20%. What is the effect of the above transaction on the consolidated statement of profit or loss for the year ended 31 December 2019? a. Profit attributable to Owners of Cameron Ltd Reduce by $1,000 Profit attributable to Non- controlling interest - Reduce by $667 b.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 18E

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