Par Company sells land with a book value of $5,000 to Sub Company for $6,000 in 2011. Sub Company holds the land during 2012. Sub Company sells the land for $8,000 to an outside entity in 2013.rnIn 2011 the unrealized gain:rn
rn
a). To be eliminated is affected by the non controlling interest percentagern
b). Is initially included in the subsidiary’s accounts and must be eliminated from Par Company’s income from Sub Company under the equity methodrn
c). Is eliminated from consolidated net income by a work paper entry that includes a credit to the land account for $1,000rn
d). Is eliminated from consolidated net income by a work paper entry that includes a credit to the land account for $6,000
