An intercompany gain or loss appears in the income statement of the selling affiliate in the year of the sale.
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Q24: Piglet Incorporated purchased 90% of the outstanding
Q25: Pigeon Company owns 80% of the outstanding
Q26: Porter Corporation acquired 70% of the outstanding
Q27: Prey Corporation created a wholly owned subsidiary,Sage
Q28: On January 2,2014,Pal Corporation sold warehouse equipment
Q30: Separate income statements of Plantation Corporation and
Q31: Plower Corporation acquired all of the outstanding
Q32: Snow Company is a wholly owned subsidiary
Q33: On January 1,2013,Pilgrim Imaging purchased 90% of
Q34: Park Incorporated purchased a 70% interest in
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