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
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.
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Managerial Accounting
Authors: James Jiambalvo
6th edition
9781119158226, 111915801X, 1119158222, 978-1119158011
