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San Diego State University Operations And Supply Chain Management Assignment Help - Corporation

Question - 1. Son Corporation is an 80 percent-owned subsidiary of Pin Corporation. In 2011, Son sold land that
cost $15,000 to Pin for $25,000. Pin held the land for eight years before reselling it in 2019 to Roy
Company, an unrelated entity, for $55,000. The 2019 consolidated income statement for Pin and its
subsidiary, Son, will show a gain on the sale of land of:
a. $40,000
b. $32,000
c. $30,000
d. $24,000
2. On January 3, 2011, Pal Corporation sells equipment with a book value of $90,000 to its 100
percent-owned subsidiary, Sat Corporation, for $120,000. The equipment has a remaining useful life
of three years with no salvage at the time of transfer. Sat uses the straight-line method of
depreciation. As a result of this intercompany tr ...Read More

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