IF equipment account at 1/1/2019 was ( 150,000 for parents ,160,000 for subsidiary ) and at 31/12/2019 ( 160,000 for patents,180,000 for subsidiary ) if equipment in subsidiary co fair value at beginning of the year was less than book value by 5,000$ and useful life 5 years .what the amount of equipment reported in consolidated balance sheet in 31/12/2019

Select one: a. 335,000 b. 345,000 c. 336,000 d. 334,000

Parent sales of goods to its subsidiary, increase parent sales, COGS and gross profit

Select one: True False

In 2018,P Co sold land to its subsidiary, S Co, for $38,000. It had a book value of $24,000. In the next year,S co sold the land for $41,000 to third party.

Which of the following is correct?

Select one: a. No consolidation working sheet entry is required for this transaction in 2014. b. A consolidation working sheet entry is required only if the subsidiary was less than 100% owned in 2014. c. A consolidation working sheet entry is required each year that S co has the land d. A consolidation working sheet entry was required only if the land was held for resale in 2014