Justings Co. owned 80% of Evana Corp. During 2018, Justings sold to Evana land with a book

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Question:

Justings Co. owned 80% of Evana Corp. During 2018, Justings sold to Evana land with a book value of $48,000. The selling price was $70,000.For purposes of the December 31, 2018 consolidated financial statements, at what amount should the land be reported?

Multiple Choice

$17,600.
$22,000.
$48,000.
$56,000.
$70,000.

Posted Date: Jun 13, 2024 06:39 PM

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Justings Co. owned 80% of Evana Corp. During 2018, Justings sold to Evana land with a book

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