1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
xeze [42]
3 years ago
13

PrintItem 4Item 4 On November 8, 2018, Power Corp. sold land to Wood Co., its wholly owned subsidiary. The land cost $61,500 and

was sold to Wood for $89,000. For consolidated financial statement reporting purposes, when must the gain on the sale of the land be recognized?
Business
1 answer:
IRISSAK [1]3 years ago
3 0

Answer: When Wood Co. sells the land to a third party.

Explanation: As stated in the question, Wood Co. who purchased the land is a subsidiary of the seller, Power Corp., the parent company. In a consolidated financial statement whereby financial reports of all entities, subsidiaries and all financial attachment of a corporate establishment is accounted for.

Power Corp. owns the entirety of Woods Co. and therefore during a consolidated financial statement reporting, the profit made by Power Corp. from the sale of the land must be recorded when the land is purchased from Woods Co. by a third party.

You might be interested in
Catherine, a resident of California, has been serving a federal government office for the last five years. Her superiors have al
kupik [55]

Answer:

B) did not file the complaint within 45 days of the event.

Explanation:

Time limits matter and in this case Catherine should have approached the Equal Employment Opportunity Commission before.

All she can do now is wait until next April and if her work is not properly recognized at that moment, then she should immediately file a complaint (at least before the 45 day limit expires).

5 0
3 years ago
In which of the following situations would each of the members be responsible for producing an equal share of the total amount o
Natasha_Volkova [10]

Answer:

In which of the following situations would each of the members be responsible for producing an equal share of the total amount of output sold by the cartel engaged in joint profit maximization?

When marginal costs of production are the same for each of the members of the cartel.

Explanation:

D

8 0
3 years ago
Which of the following is a common sense safety procedure that can help prevent electrical accidents
evablogger [386]
Putting the wrong wires together and not knowing what goes to what
7 0
3 years ago
Read 2 more answers
Why should policies that attempt to create a ladder of opportunity be carried out in the spirit of open-mindedness? Select all t
OverLord2011 [107]

Answer:

b. Such policies have the potential to equalize society.

Explanation:

Open mindedness policy means giving fair and equal opportunity to all and sundry without being bias. When considering open mindedness policy, information is shared to everyone without considering race, religion background or educational qualifications.

Open mindedness accepts people from diverse background and tends to listen first before judging. It also consider opinions from all side without segregation. Although this is the right thing expected but the result is usually not the case.

Unlike close mindednes which restrict information thereby limiting opportunities, open mindedness helps one to learn, unlearn, relearn and grow. It also comes with being honest-thats who you are.

Thus when policy is enacted on open mindedness, it has potentials to equalize the society.

4 0
3 years ago
As a factor of production, how is capital created? A. By adding land to entrepreneurship B. By adding human labor to land C. By
Dennis_Churaev [7]

Answer:

B

Explanation:

By adding human labor to land

7 0
2 years ago
Read 2 more answers
Other questions:
  • Liquidity Ratios You have the following information on Marco's Polo Shop: total liabilities and equity = $212 million; current l
    5·1 answer
  • Loft Industries sells roof trusses to contractors and builders and is currently looking for honest feedback on its services. How
    15·1 answer
  • Classify the following topics as relating to microeconomics or macroeconomics. Topic: Microeconomics or Macroeconomics
    12·1 answer
  • Sales, property, and income are three types of _____.
    9·1 answer
  • Lancelot Manufacturing is a small textile manufacturer using machineminushours as the single indirectminuscost rate to allocate
    6·1 answer
  • According to the market theory of wage determination, under what circumstances will wages for a particular group be highest?
    14·2 answers
  • Melodyâs Piano School operations for the month of May were limited to the following transactions:1. Provided $500 of instruction
    10·1 answer
  • How do my educational choices connect with my long-term goals and vision for life?
    5·1 answer
  • Sue invested $5,000 in the ABC Limited Partnership and received a 10 percent interest in the partnership. The partnership had $2
    13·1 answer
  • which of the following is not an economic goal of leaders of most nations? a. efficiency b. price stability c. growth d. full em
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!