Assuming the same facts as for Question 12 but that 2 years later S sold the land outside the group for $1,200,000 the consolidation journal entry required would be (ignoring tax effects):
D) no entry required

Name: Assuming the same facts as for Question 12 but that 2 years later S sold the land outside the group for $1,200,000 the consolidation journal entry required would be (ignoring tax effects): D) no entry required
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Question

Assuming the same facts as for Question 12 but that 2 years later S sold the land outside the group for $1,200,000 the consolidation journal entry required would be (ignoring tax effects): 
D) no entry required

Quizplus · Accepted Answer

The Answer is A

Assuming the Same Facts as for Question 12 but That