For each of the following intercompany transactions, state the principle to be used in accounting for intercompany gains on current and future consolidated income statements:
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a.Gains on merchandise sales
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?
b.Gains on the sale of land
?
?
c.Gains on the sale of depreciable fixed assets
?
?
d.Interest on intercompany notes
?

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The Answer of For each of the following intercompany transactions, state the principle to be used in accounting for intercompany gains on current and future consolidated income statements:
?
a.Gains on merchandise sales
?
?
b.Gains on the sale of land
?
?
c.Gains on the sale of depreciable fixed assets
?
?
d.Interest on intercompany notes
?

For Each of the Following Intercompany Transactions, State the Principle