Pancake Corporation purchased land on January 1,20X0,for $60,000.On August 7,20X2,it sold the land to its subsidiary,Syrup Corporation,for $35,000.Pancake owns 60 percent of Syrup's voting shares.
-Which worksheet consolidation entry will be made on December 31,20X3,if Syrup Corporation had initially purchased the land for $60,000 and then sold it to Pancake on August 7,20X2,for $35,000?

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The Answer of Pancake Corporation purchased land on January 1,20X0,for $60,000.On August 7,20X2,it sold the land to its subsidiary,Syrup Corporation,for $35,000.Pancake owns 60 percent of Syrup's voting shares.
-Which worksheet consolidation entry will be made on December 31,20X3,if Syrup Corporation had initially purchased the land for $60,000 and then sold it to Pancake on August 7,20X2,for $35,000?

Pancake Corporation Purchased Land on January 1,20X0,for $60,000