Business, 20.11.2019 23:31 kcombest7219
On january 1, 2016, tilson corporation sold a tract of land to its 100% owned subsidiary, abreau, inc., for $360,000. the land originally cost tilson $314,000. abreau reported net income of $540,000 and $611,000 for 2016 and 2017, respectively. tilson received dividends from abreau of $65,000 and $72,000 for 2016 and 2017, respectively.
assume that tilson uses the equity method to account for its investment in abreau. what is the balance in the pre-consolidation income (loss) from subsidiary account for 2017?
select one:
a. 540,000
b. 657,000
c. 971,000
d. 611,000
Answers: 1
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On january 1, 2016, tilson corporation sold a tract of land to its 100% owned subsidiary, abreau, in...
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