Question
PLEASE SHOW ALL STEPS TO GET TO THE ANSWER. Stark Company, a 90% owned subsidiary of Parker, Inc., sold land to Parker on May 1,
PLEASE SHOW ALL STEPS TO GET TO THE ANSWER.
Stark Company, a 90% owned subsidiary of Parker, Inc., sold land to Parker on May 1, 2010, for $80,000. The land originally cost Stark $85,000. Stark reported net income of $200,000, $180,000, and $220,000 for 2010, 2011, and 2012, respectively. Parker sold the land it purchased from Stark in 2010 for $92,000 in 2012.
90. Compute income from Stark reported on Parker's books for 2012. A. $204,300. B. $202,500. C. $193,500. D. $191,700. E. $198,000.
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
6th Edition
978-0470477144, 1118096894, 9781118214657, 470477148, 111821465X, 978-1118096895
