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Chandler Ltd. owns 65% of Stork Co. and accounts for its investment using the cost method. During 20X3, Chandler sold its only land holding to Stork for a $25,000 profit. At the end of 20X4, Stork showed the land on its single-entity financial statement at a value of $100,000. What balance should Chandler show on its consolidated statement of financial position for the land?
Metamorphic Equivalent
A rock resulting from the metamorphism of an initial rock type, transforming its mineral composition or structure.
Greenstone
A metamorphic rock, typically formed under low-grade conditions, that has a greenish color due to the presence of minerals such as chlorite, epidote, or actinolite.
Marble
A metamorphic rock composed of recrystallized calcite or dolomite.
Quartzite
A very hard rock consisting chiefly of quartz grains joined by secondary silica that causes the rock to break across rather than around the grains; formed by metamorphism or by silica cementation of a quartz sandstone.
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