Sold land and subsidiary for a gain

Reference no: EM13143402

Parent sold land to its subsidiary for a gain in 2007. The subsidiary sold the land externally for a gain in 2010. Which of the following statements is true?

a. A gain will be reported on the consolidated income statement in 2007.

b. A gain will be reported on the consolidated income statement in 2010.

c. No gain will be reported on the 2010 consolidated income statement.

d. Only the parent company will report a gain in 2010.

e. The subsidiary will report a gain in 2007.

Reference no: EM13143402

Questions Cloud

Useful in understanding race and racism : To what extent is double consciousness useful in understanding race and racism today?

What is the volume of the balloon : If I have 7.0 moles of gas at a pressure of 0.10 atm and at a temperature of 50.1 degrees C in a balloon, what is the volume of the balloon? (Round to one decimal place.)

Find extreme value or is it a fairly typical sample mean : Extreme value or is it a fairly typical sample mean? For a sample of n=36 scores, would a sample mean of M=55 be considered an extreme value or is it is fairly typical sample mean?

Describe fully the alternatives situation : Describe fully the alternatives that are available to you in this situation. Express your personal opinion as to the appropriate course of action and provide reasoning to support your opinion.

Sold land and subsidiary for a gain : Parent sold land to its subsidiary for a gain in 2007. The subsidiary sold the land externally for a gain in 2010. Which of the following statements is true?

What is a protein-to-protein interaction : what is a protein-to-protein interaction in other words what 2 proteins must be together for transcription to take place and what 2 proteins for replication?

How much error expect between sample mean-population mean : How much error, on average, would you expect between the sample mean (M) and the population mean for: a sample of n=4 scores, a sample of n=16 scores, and a sample of n=25 scores.

What is the concentration of na ions : if 100 mL of 0.100 M NaCl is added to 100 mL of .01 M NaCl, what is the concentration of Na ions in the final solution?"

How are the neurophysiological and neuroanatomical : How are the neurophysiological and neuroanatomical mechanisms associated with the formation of the perception of phantom limbs and the perceptual phenomenon of synaesthesia similar

User Account

All Pages