Question 12 Not yet answered Points out of 4.00 Fullerton Corporation owns 100% of Irvine Corporation's common stock. On January 2, 2020, Fullerton sold machinery with a carrying amount of $30,000 to Irvine Corp for $50,000. Irvine Corp is depreciating the acquired machinery over a 10-year life using the straight-line method. The related net adjustments to compute the 2020 and 2021 consolidated income (gain, loss, depreciation expense, etc.) before income tax would be an increase (decrease) of: P Flag question Select one: O a. $(18,000) for 2020 and $2,000 for 2021 O b. $(16,000) for 2020 and $4,000 for 2021 c. $(20,000) for 2020 and $2,000 for 2021 O d. $(20,000) for 2020 and $0 for 2021 Question 13 Not yet PAR lends $10,000 to SUB (80% owned by PAR) on 7/1/2015. SUB signs a one- year, 8% Note, interest payable on the due date. The interest receivable that is reported in the 2015 consolidated balance sheet is: answered Points out of 4.00 P Flag question Select one: a. 10,000 O b. 400 O c. 800 O d. 0 Question 12 Not yet answered Points out of 4.00 Fullerton Corporation owns 100% of Irvine Corporation's common stock. On January 2, 2020, Fullerton sold machinery with a carrying amount of $30,000 to Irvine Corp for $50,000. Irvine Corp is depreciating the acquired machinery over a 10-year life using the straight-line method. The related net adjustments to compute the 2020 and 2021 consolidated income (gain, loss, depreciation expense, etc.) before income tax would be an increase (decrease) of: P Flag question Select one: O a. $(18,000) for 2020 and $2,000 for 2021 O b. $(16,000) for 2020 and $4,000 for 2021 c. $(20,000) for 2020 and $2,000 for 2021 O d. $(20,000) for 2020 and $0 for 2021 Question 13 Not yet PAR lends $10,000 to SUB (80% owned by PAR) on 7/1/2015. SUB signs a one- year, 8% Note, interest payable on the due date. The interest receivable that is reported in the 2015 consolidated balance sheet is: answered Points out of 4.00 P Flag question Select one: a. 10,000 O b. 400 O c. 800 O d. 0