Stiller company, an 80% owned subsidiary of leo company, purchased land from leo on march 1, 2012, for $75,000. the land originally cost leo $60,000. stiller reported net income of $125,000 and $140,000 for 2012 and 2013, respectively. leo uses the equity method to account for its investment. on a consolidation worksheet, having used the equity method, what adjustment would be made for 2013 regarding the land transfer?

The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense. accounts receivable $ 435,000 debit allowance for doubtful accounts 1,250 debit net sales 2,100,000 credit all sales are made on credit. based on past experience, the company estimates 1.0% of credit sales to be uncollectible. what adjusting entry should the company make at the end of the current year to record its estimated bad debts expense

Which of the following areas provides residents with close access to high-paying jobs and cultural attractions? a. the suburbs b. exurbs c. rural areas d. the city 2b2t

Your dormitory, griffingate, has appointed you central banker of its economy, which deals in the currency of wizcoins. assume that the velocity of wizcoins in griffingate is constant at 10,000 transactions per year. right now, real gdp is 1,000 wizcoins, and there are 2,000 wizcoins in existence.