Business, 24.03.2020 23:04, abbymcd05

1. An 80%-owned subsidiary sells land to its parent at a gain of $100,000. The following year, the parent sells the land to an outside entity for a gain of $10,000. How is the noncontrolling interest in net income affected in the year the parent sells the land? A. No effect B. Increase of $20,000 C. Decrease of $2,000 D. Decrease of $22,000

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1. An 80%-owned subsidiary sells land to its parent at a gain of $100,000. The following year, the p...