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In X10, ABC Company purchases 80% of the outstanding shares of ZZ Company. The following intercompany sale occurred in X11: ZZ sold land to
In X10, ABC Company purchases 80% of the outstanding shares of ZZ Company. The following intercompany sale occurred in X11: ZZ sold land to ABC with a profit of $20,000. Assume the land has not been resold by ABC. What would be the net impact of this transaction on the NCI for the year X11? No impact (-) $20,000 None of these answers (+) $4,000 (-) $4,000
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
16th edition
1118742974, 978-1118743201, 1118743202, 978-1118742976
