Upstream or downstream transfers

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Reference no: EM13132012

Justings Co. owned 80% of Evana Corp. During 2006, Justings sold to Evana land with a book value of $48,000. The selling price was $70,000.

A. Create the eliminations regarding this transaction for 2006 and 2007, TL and *TL.

Reference no: EM13132012

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