q1. Parents co sold land to its subsidiary which cost $15,000 for10,000,during 2019 subsidiary resold the land for 20,000 to third party in 2020 .the realized income reported in 2019 will be?

Select one:

a. 5,000 loss

b. 5,000 profit

c. 10,000 loss

d. 0

q2. A corporation using the cost method of accounting for its investment in a 40% owned investee,which earned $20,000 ,the credit side of recording the income from subsidiary will be .

Select one:

a. investment

b. cash

c. no entry

d. income