Ignoring income taxes and any minority interest effects, what is the amount of profit realized during 2018 from the intercompany sale of equipment?

Question

Quizplus · Accepted Answer

The amount of profit realized during 2018 from the intercompany sale of equipment is calculated as follows:

Sales price of equipment: $30,000
Cost of equipment sold: $25,000
Profit: $30,000 - $25,000 = $5,000

Therefore, the correct answer is C, $5,000.

Ignoring Income Taxes and Any Minority Interest Effects, What Is