Apple corporation and banana corporation file consolidated returns. in january 2007, apple sold banana property with a basis of $120,000 for its fair value of $150,000. banana sold the property to an unrelated party in april 2008 for $200,000. what amount of gain should be reported for these transactions in the consolidated returns for 2011 and 2012?
The consolidated return for 2007 should report $0 in gains, since transactions between the parent company and a subsidiary don't generate gain.
The consolidated return for 2008 should report $80,000 in gains. since Banana Corporation sold an asset with a basis of $120,000 for $200,000.
someone i feel is a leader in my life id have to say would be my mother because she has give me great advice in life and got me out of tough situations. some characteristics she has are creativity, honesty, commitment, respect for others, and communication. one example of a situation when she demonstrated leadership was when i was working late on homework and i started to get stressed and got upset, she asked me if i needed some , and she me with my work. she demonstrated communication and commitment.
i don't know if this is exactly what your looking for but i hope this !