Question
Match the terms in the list to the definitions below. Each term may be used only once. A. Unrealized gain F. Consolidated retained earnings B.
Match the terms in the list to the definitions below. Each term may be used only once.
A. Unrealized gain F. Consolidated retained earnings
B. Realization by usage G. Intercompany interest
C. Consolidated gain H. Intercompany rents
D. Consolidated book value I. Intercompany service fees
E. Controlling interest in Consolidated Net Income J. Nondepreciable property
_____ 1. S owes P money and must pay a fee for borrowing
_____ 2. P's earnings from outsiders is adjusted to reflect intercompany gains and realizations of those gains
_____ 3. Unrealized gain is spread over the life of a capital asset by decreasing depreciation expense
_____ 4. Intercompany sales of land from one affiliate to another generates a transfer of this
_____ 5. P sells equipment to S for more than its book value
_____ 6. The original cost of the depreciable property less accumulated depreciation adjusted for unrealized gain on the intercompany sale
_____ 7. P's undistributed earnings adjusted for unrealized gains and amortization of those gains
_____ 8. S performs a service for P, which records that service as an asset
_____ 9. P lets S use its excess facilities for a monthly payment
_____10. Any gain on property as adjusted for intercompany transactions
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