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Silver Company Owns 60 Percent of the Common Stock of Gold

Question 44

Multiple Choice

Silver Company owns 60 percent of the common stock of Gold Corporation.During the year,Silver reported sales of $500,000,and Gold reported sales of $200,000,including sales to Silver of $50,000.The amount of sales that should be reported in the consolidated income statement for the year is


A) $500,000
B) $650,000
C) $700,000
D) $750,000

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