In Bayesian analysis, additional information is used to alter the conditional probability of the occurrence of an event

If a contract for the purchase of real estate is to be enforceable, the consideration must be sufficient relative to value in order to enforce a suit for:

A: Rescission; B: Specific performance; C: Unlawful detainer; D: Damages.

Pachelor Corporation owns 70% of the outstanding stock of Stabb Company. On January 1, 2013, Stabb issued $1,000,000 in 7% bonds that matured on January 1, 2018

At the time of issuance, the bonds were sold at a discount of $125,000. At January 2, 2015, Pachelor purchased the bonds for $1,400,000, and constructively retired the debt. Interest is paid annually on January 1. Straight-line amortization is used by both companies. Required: 1. Calculate the gain or loss that the consolidated entity incurred to retire the debt. 2. Prepare eliminating/adjusting entries for the consolidating work papers for the year ended December 31, 2015. What will be an ideal response?