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Business, 24.06.2019 20:40 clairebear65

Stiller company, an 80% owned subsidiary of leo company, purchased land from leo on march 1, 2012, for $75,000. the land originally cost leo $60,000. stiller reported net income of $125,000 and $140,000 for 2012 and 2013, respectively. leo uses the equity method to account for its investment. on a consolidation worksheet, having used the equity method, what adjustment would be made for 2013 regarding the land transfer?

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Stiller company, an 80% owned subsidiary of leo company, purchased land from leo on march 1, 2012, f...
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