Business, 28.05.2021 14:10 cathydaves
On October 6, 2021, Ronan Corp. sold land to Bane Co., its wholly owned subsidiary. The land cost $72,400 and was sold to Bane for $96,000. For consolidated financial statement reporting purposes, when must the gain on the sale of the land be recognized?a. No gain may be recognized. b. As Bane uses the land. c. When Bane Co. sells the land to a third party. d. Proportionately over a designated period of years. e. When Bane Co. begins using the land productively.
Answers: 3
Business, 22.06.2019 16:50
Coop inc. owns 40% of chicken inc., both coop and chicken are corporations. chicken pays coop a dividend of $10,000 in the current year. chicken also reports financial accounting earnings of $20,000 for that year. assume coop follows the general rule of accounting for investment in chicken. what is the amount and nature of the book-tax difference to coop associated with the dividend distribution (ignoring the dividends received deduction)?
Answers: 2
Business, 23.06.2019 07:00
Rare beef roasts can be cooked to what internal temperature? a) 120°f b) 130°f c) 145°f d) 155°f
Answers: 1
On October 6, 2021, Ronan Corp. sold land to Bane Co., its wholly owned subsidiary. The land cost $7...
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