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Business, 30.03.2020 19:07 001136843

Sam Inc. is a 90% owned subsidiary of Paul Corp. Paul sold land to Sam for $100,000 that originally cost Paul $50,000. Paul uses the fully adjusted equity method. What adjustment is needed on Paul's books in the year the land is sold to Sam?

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Sam Inc. is a 90% owned subsidiary of Paul Corp. Paul sold land to Sam for $100,000 that originally...
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