Subsidiary land and inventory, Accounting Basics

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Subsidiary land and inventory

In an acquisition, a subsidiary's land, inventory (FIFO), and fixed assets (12 year life) are revalued. It is now 15 years after the acquisition. In consolidation, elimination entry (R) affects :

a) none of the assets.

b) only land.

c) only land and fixed assets.

d) land, fixed assets and inventory.

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Accounting Basics: Subsidiary land and inventory

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Subsidiary land and inventory

Reference No:- TGS090335

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Complete equity method

Q : Acquisition reported as a bargain purchase

Q : Valuation of noncontrolling interests

Q : Non-controlling interest in net income measured by gaap

Q : Subsidiary land and inventory

Q : Acquisition cost over book value

Q : Find the net present value of the investment

Q : Determining the present value of the investment

Q : Events using the fair value method

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Subsidiary land and inventory

Reference No:- TGS090335

Recent Questions Asked Accounting Basics

Q : Complete equity method

Q : Acquisition reported as a bargain purchase

Q : Valuation of noncontrolling interests

Q : Non-controlling interest in net income measured by gaap

Q : Subsidiary land and inventory

Q : Acquisition cost over book value

Q : Find the net present value of the investment

Q : Determining the present value of the investment

Q : Events using the fair value method

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