P Company Purchased Land from Its 80% Owned Subsidiary at a Cost

question 5

Multiple Choice

P Company purchased land from its 80% owned subsidiary at a cost of $30,000 greater than it subsidiary's book value.Two years later P sold the land to an outside entity for $15,000 more than it's cost.In its current year consolidated income statement P and its subsidiary should report a gain on the sale of land of:

• A)$15,000.
• B)$36,000.
• C)$39,000.
• D)$45,000.

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Definitions:

Patient Communication

The exchange of information between healthcare providers and patients to promote better health outcomes.

Authority Statements

Declarations or proclamations made by someone in a position of power or expertise, often used to guide or influence others.

Doctor Ordered

A directive given by a physician regarding a patient's treatment plan or medical care.

Interview Situation

An event in which a person is asked questions in a formal or informal setting, often used in research, clinical assessments, or employment processes.