Pumpkin Corporation purchased land on January 1,20X6,for $50,000.On July 15,20X8,it sold the land to its subsidiary,Spice Corporation,for $70,000.Pumpkin owns 80 percent of Spice's voting shares.
-Which worksheet consolidating entry will be made on December 31,20X9,if Spice Corporation had initially purchased the land for $50,000 and then sold it to Pumpkin on July 15,20X8,for $70,000?

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The Answer of Pumpkin Corporation purchased land on January 1,20X6,for $50,000.On July 15,20X8,it sold the land to its subsidiary,Spice Corporation,for $70,000.Pumpkin owns 80 percent of Spice's voting shares.
-Which worksheet consolidating entry will be made on December 31,20X9,if Spice Corporation had initially purchased the land for $50,000 and then sold it to Pumpkin on July 15,20X8,for $70,000?

Pumpkin Corporation Purchased Land on January 1,20X6,for $50,000