Item19

Time Remaining 21 minutes 46 seconds

00:21:46

Item 19

Time Remaining 21 minutes 46 seconds

00:21:46

Meeker owns 70% of Borland. On January 1, 2018 Meeker sells Land which had cost them $60,000 to Borland for $100,000. Borland holds the land until December 31, 2021 when it sells it to third parties for $155,000. How much is the consolidated gain or loss for 2021?

Multiple Choice

• $95,000 gain

• $55,000 gain

• $15,000 loss

• $80,000 loss