REFERENCE: Ref.05_10 Stark Company,a 90% Owned Subsidiary of Parker,Inc. ,Sold Land to Land

question 90

Multiple Choice

REFERENCE: Ref.05_10
Stark Company,a 90% owned subsidiary of Parker,Inc. ,sold land to Parker on May 1,2009,for $80,000.the land originally cost Stark $85,000.Stark reported net income of $200,000,$180,000,and $220,000 for 2009,2010,and 2011,respectively.Parker sold the land it purchased from Stark in 2009 for $92,000 in 2011.
-Compute income from Stark reported on Parker's books for 2011.

• A)$204,300.
• B)$202,500.
• C)$193,500.
• D)$191,700.
• E)$225,000.

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Definitions:

Obsessive-Compulsive Disorder

A mental disorder characterized by intrusive thoughts (obsessions) and repetitive behaviors (compulsions) driven by these thoughts.

Intrusive Thoughts

Unwanted and often distressing thoughts or images that spontaneously enter one's mind, causing discomfort or anxiety.

Suppress

To consciously or unconsciously hold back, inhibit, or stop an action, thought, or emotion from being expressed.

Phobia

An intense and irrational fear of specific situations, objects, or activities that results in a compelling desire to avoid the dreaded subject or situation.