What is the effect of this sale of land


In 2011, P Company sells land to its 80% owned subsidiary, S Company, at a gain of $50,000. What is the effect of this sale of land on consolidated net income assuming S Company still owns the land at the end of the year?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What is the effect of this sale of land
Reference No:- TGS077697

Expected delivery within 24 Hours