Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help with both questions please QUESTION 3 A parent company owns 30% of the voting stock of a subsidiary, in which of the

image text in transcribed
i need help with both questions please
QUESTION 3 A parent company owns 30% of the voting stock of a subsidiary, in which of the following usenoncontrolling interest is recorded in which consolidation Entry Entry Entry Entry Entry Not reported in any consolidation Entry QUESTION 4 SUBSIDIARY CO.seils Land to its PARENT CO. for $100,000 with a basis of 580.000. In Year 3, PARENT CO, sells the land to an unrelated third party for $130.000 For consolidation at the end of Year 1. what account is debited in Consolidation Entry TL Land Gain Retained earnings Sales Cost of goods sold

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Version 3.1

Authors: Joe Ben Hoyle, C.J. Skender, Leah Kratz

1st Edition

1453339442, 9781453339442

More Books

Students also viewed these Accounting questions

Question

Describe the uses of information gained from job analysis.

Answered: 1 week ago