Compute Parker's Reported Gain or Loss on Its Internal Accounting

question 4

Multiple Choice

Compute Parker's reported gain or loss on its internal accounting records prior to consolidation relating to the land for 2019.

• A) $12,000 gain.
• B) $ 5,000 loss.
• C) $12,000 loss.
• D) $ 7,000 gain.
• E) $ 7,000 loss.

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