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sashaice [31]
3 years ago
10

A parent sold land costing $400,000 to its subsidiary for $450,000 in 2017. The subsidiary still holds the land at the end of 20

19. On a working paper prepared to consolidate the financial statements of the parent and subsidiary in 2019, the eliminating entry connected with this land includes a $50,000 credit to:
a. Land
b. Investment in subsidiary
c. Gain on sale of land
d. Beginning retained earnings of the subsidiary
Business
1 answer:
nadezda [96]3 years ago
5 0

Answer:

correct option is a. Land

Explanation:

given data          

land costing =  $400,000        

subsidiary 2017 = $450,000      

land credit = $50,000        

                 

solution            

While when we consolidating  land that will  appear in the group asset at the amount of 450,000.  

so here the appreciation in the value of land is not  realized gain .

so that there will be  credit to land with 50,000

so correct option is a. Land

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Answer:

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Explanation:

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5 0
3 years ago
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Ilya [14]

Answer:

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Explanation:

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Unit product cost under variable costing = Direct material + Direct labor + Variable manufacturing overhead

= $47 + $21 + $8

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7 0
3 years ago
Which of the following should which of the following should be of concern when a company considers expanding into a new Internat
vladimir1956 [14]
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8 0
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Which one is NOT a competing value:
IgorLugansk [536]

Short Term vs Long Term is NOT a competing value.

<h3>Competing value</h3>

Competing value are range of values and priorities that determine and influence a community's culture.

Examples of Competing value are <em>Justice vs Mercy, Truth vs Loyalty, Person vs Society.</em>

Short Term vs Long Term is NOT a competing value.

Find out more on Competing value at: brainly.com/question/24877850

6 0
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Answer:

The answers are:

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5 0
3 years ago
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