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Use the Following Information to Answer the Question(s)below

Question 7

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Use the following information to answer the question(s) below.
Bird Corporation purchased an 80% interest in Brush Corporation on July 1,2013 at its book value,and on January 1,2014 its Investment in Brush account was $300,000,equal to its book value.Brush's net income for 2014 was $99,000 (earned uniformly) ;no dividends were declared.On March 1,2014,Bird reduced its interest in Brush by selling a 20% interest,one-fourth of its investment,for $84,000.
-If Bird uses a "beginning-of-the-year" sale assumption,its gain on sale and income from Brush for 2014 will be


A) Use the following information to answer the question(s) below. Bird Corporation purchased an 80% interest in Brush Corporation on July 1,2013 at its book value,and on January 1,2014 its Investment in Brush account was $300,000,equal to its book value.Brush's net income for 2014 was $99,000 (earned uniformly) ;no dividends were declared.On March 1,2014,Bird reduced its interest in Brush by selling a 20% interest,one-fourth of its investment,for $84,000. -If Bird uses a beginning-of-the-year sale assumption,its gain on sale and income from Brush for 2014 will be A) B) C) D)
B) Use the following information to answer the question(s) below. Bird Corporation purchased an 80% interest in Brush Corporation on July 1,2013 at its book value,and on January 1,2014 its Investment in Brush account was $300,000,equal to its book value.Brush's net income for 2014 was $99,000 (earned uniformly) ;no dividends were declared.On March 1,2014,Bird reduced its interest in Brush by selling a 20% interest,one-fourth of its investment,for $84,000. -If Bird uses a beginning-of-the-year sale assumption,its gain on sale and income from Brush for 2014 will be A) B) C) D)
C) Use the following information to answer the question(s) below. Bird Corporation purchased an 80% interest in Brush Corporation on July 1,2013 at its book value,and on January 1,2014 its Investment in Brush account was $300,000,equal to its book value.Brush's net income for 2014 was $99,000 (earned uniformly) ;no dividends were declared.On March 1,2014,Bird reduced its interest in Brush by selling a 20% interest,one-fourth of its investment,for $84,000. -If Bird uses a beginning-of-the-year sale assumption,its gain on sale and income from Brush for 2014 will be A) B) C) D)
D) Use the following information to answer the question(s) below. Bird Corporation purchased an 80% interest in Brush Corporation on July 1,2013 at its book value,and on January 1,2014 its Investment in Brush account was $300,000,equal to its book value.Brush's net income for 2014 was $99,000 (earned uniformly) ;no dividends were declared.On March 1,2014,Bird reduced its interest in Brush by selling a 20% interest,one-fourth of its investment,for $84,000. -If Bird uses a beginning-of-the-year sale assumption,its gain on sale and income from Brush for 2014 will be A) B) C) D)

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