Question: Assignment Help Save & Exit Sub Pavement Company acquired an 80% interest in Sand Corporation on January 1, 2014 at a cost equal to carrying

Assignment Help Save & Exit Sub Pavement Company acquired an 80%

Assignment Help Save & Exit Sub Pavement Company acquired an 80% interest in Sand Corporation on January 1, 2014 at a cost equal to carrying amount and fair value. In the same year Sand sold land costing $30,000 to Pavement for $50.000. On July 1, 2019. Pavement sold the land to an unrelated party for $110.000 What was the gain reported on the 2019 consolidated income statement? Multiple Choice 160.000 $64.000 $80.000 Poor Sort I Next >

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