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How much is the consolidated gain or loss

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Problem - Meeker owns 70% of Borland. On January 1, 2016 Meeker sells Land (cost of $70,000) to Borland for $100,000. Borland holds the land until December 31, 2019 when it sells it to third parties for $150,000. How much is the consolidated gain or loss for 2019?

Reference no: EM132926477

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