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Varton Corp

question 20

Essay

Varton Corp.acquired all of the voting common stock of Caleb Co.on January 1, 2018.Varton owned some land with a book value of $84,000 that was sold to Caleb for its fair value of $120,000.How should this transfer be accounted for by the consolidated entity?


Definitions:

Expressive Style

Pertains to the way an individual communicates their thoughts, feelings, and ideas, often characterized by emotional expressiveness and creativity.

Underextension

A linguistic phenomenon observed in child language acquisition where a child applies a word in a more limited manner than adults do.

Referential

Pertaining to the use of language to refer to objects and ideas, or relating to the ability of something to act as a symbol or stand for something else.

Expressive Style

A communication approach where individuals are more likely to express their thoughts, feelings, and ideas openly and articulately.

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