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What amount should the land be shown on the consolidated

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Reference no: EM132837988

Problem 1: A parent sells land to its subsidiary for $40,000, and shows a loss of $5,000. At what amount should the land be shown on the consolidated balance sheet?

a. $ 5,000
b. $35,000
c. $40,000
d. $45,000

Reference no: EM132837988

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