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13. A parent sells land costing $35,000 to a subsidiary in 2016 for $55,000. The subsidiary sells the land in 2018 to a third party
13. A parent sells land costing $35,000 to a subsidiary in 2016 for $55,000. The subsidiary sells the land in 2018 to a third party for $85,000. On the consolidated income statement for 2018, the gain on sale of land is: (Points : 3) |
$-0- $30,000 $20,000 $50,000
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