Question 36

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IF equipment account at 1/1/2019 was ( 150,000 for parents ,160,000 for subsidiary ) and at 31/12/2019 ( 160,000 for patents , 180,000 for subsidiary ) if equipment in subsidiary co fair value at beginning of the year was more than book value by 5,000$ and useful life 5 years . what the amount of equipment reported in consolidated balance sheet in 31/12/2019

Select one:

a. 336,000

b. 335,000

c. 345,000

d. 344,000

Question 35

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Gain on the sale of land between parents & subsidiary should be appear in the consolidated income statement

Select one:

True

False