Stark Company, a 90% Owned Subsidiary of Parker, Inc

question 62

Multiple Choice

Stark Company, a 90% owned subsidiary of Parker, Inc. sold land to Parker on May 1, 2012, for $80,000. The land originally cost Stark $85,000. Stark reported net income of $200,000, $180,000, and $220,000 for 2012, 2013, and 2014, respectively. Parker sold the land purchased from Stark in 2012 for $92,000 in 2014.
Which of the following will be included in a consolidation entry for 2012?

• A) Debit loss for $5,000.
• B) Credit loss for $5,000.
• C) Credit land for $5,000.
• D) Debit gain for $5,000.
• E) Credit gain for $5,000.

Identify the different types of computer memory and their uses.

Comprehend the fundamental concepts of computer languages, including machine language, assembly language, and high-level languages.

Recognize the historical development of computing devices and their evolution.

Distinguish between input and output devices.

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Definitions:

Willingness To Pay

The maximum price a consumer is prepared to pay for a good.

Positively Sloped

Describes a graph or relationship where, as one variable increases, the other variable also increases, typical of a supply curve in economics.

Negatively Sloped

A graphical representation showing a decrease in one variable as another variable increases, often used in the context of demand curves.

Total Surplus

The sum of consumer surplus and producer surplus, representing the total net benefit to society from the production and consumption of goods and services.