Solution-What was the gain on the consolidated income

What was the gain on the consolidated income statement

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Question - Lorikeet Corporation acquired a 80% interest in Nectar Corporationon January 1,2000 at a cost equal to book value and fair value. In the same year Nectar sold land costing $30,000 to Lorikeet for $50,000 on July 1, 2005. Lorikeet sold the land to an unrelated party for$110,000. What was the gain on the consolidated income statement?

Reference no: EM131769204

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What was the gain on the consolidated income statement : Lorikeet sold the land to an unrelated party for$110,000. What was the gain on the consolidated income statement

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What was the gain on the consolidated income statement

Reference no: EM131769204

Reference no: EM131769204

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