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In 20X1,a Parent Company Sold a Tract of Land to Its

Question 32

Multiple Choice

In 20X1,a parent company sold a tract of land to its subsidiary for $100,000,resulting in a $30,000 loss.The subsidiary's plans for the land did not materialize and it still owned the land at the end of 20X4.At the end of 20X4,what consolidating journal entry should be made with respect to the loss associated with the sale of land?

A) In 20X1,a parent company sold a tract of land to its subsidiary for $100,000,resulting in a $30,000 loss.The subsidiary's plans for the land did not materialize and it still owned the land at the end of 20X4.At the end of 20X4,what consolidating journal entry should be made with respect to the loss associated with the sale of land? A) B) C) D)
B) In 20X1,a parent company sold a tract of land to its subsidiary for $100,000,resulting in a $30,000 loss.The subsidiary's plans for the land did not materialize and it still owned the land at the end of 20X4.At the end of 20X4,what consolidating journal entry should be made with respect to the loss associated with the sale of land? A) B) C) D)
C) In 20X1,a parent company sold a tract of land to its subsidiary for $100,000,resulting in a $30,000 loss.The subsidiary's plans for the land did not materialize and it still owned the land at the end of 20X4.At the end of 20X4,what consolidating journal entry should be made with respect to the loss associated with the sale of land? A) B) C) D)
D) In 20X1,a parent company sold a tract of land to its subsidiary for $100,000,resulting in a $30,000 loss.The subsidiary's plans for the land did not materialize and it still owned the land at the end of 20X4.At the end of 20X4,what consolidating journal entry should be made with respect to the loss associated with the sale of land? A) B) C) D)

In 20X1,a Parent Company Sold a Tract of Land to Its

Multiple Choice

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