Ryan Ltd holds a 75% interest in Tully Ltd. On 30 June 2021 Tully Ltd transferred a depreciable non-current asset to Ryan Ltd at a profit of $15 000. Ryan Ltd determined that the remaining useful life of the asset at the date of transfer to Ryan Ltd was 5 years and the tax rate is 30%. The impact of the above transaction on the NCI share of profit at 30 June 2021 is: a. a decrease of $2 625 b. an increase of $3 750 c. an increase of $2 100 d. a decrease of $3 225 e. None of the above Please dont provide answer in image format thannk you
Ryan Ltd holds a 75% interest in Tully Ltd. On 30 June 2021 Tully Ltd transferred a depreciable non-current asset to Ryan Ltd at a profit of $15 000. Ryan Ltd determined that the remaining useful life of the asset at the date of transfer to Ryan Ltd was 5 years and the tax rate is 30%. The impact of the above transaction on the NCI share of profit at 30 June 2021 is: a. a decrease of $2 625 b. an increase of $3 750 c. an increase of $2 100 d. a decrease of $3 225 e. None of the above Please dont provide answer in image format thannk you
Chapter14: Property Transact Ions: Capital Gains And Losses, § 1231, And Recapture Provisions
Section: Chapter Questions
Problem 68P
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Question
Ryan Ltd holds a 75% interest in Tully Ltd. On 30 June 2021 Tully Ltd transferred a
a.
a decrease of $2 625
b.
an increase of $3 750
c.
an increase of $2 100
d.
a decrease of $3 225
e.
None of the above
Please dont provide answer in image format thannk you
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