On Jan 2, 2016. Parent sells to its wholly owned investee equipment that had cost $150,000. The selling price was $142,800 and accumulated depreciation on that date
On Jan 2, 2016. Parent sells to its wholly owned investee equipment that had cost $150,000. The selling price was $142,800 and accumulated depreciation on that date
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please help me with show all calculation thanku
![On Jan 2, 2016. Parent sells to its wholly
owned investee equipment that had cost
$150,000. The selling price was $142,800
and accumulated depreciation on that date
was $62,000. The subsidiary depreciates
the equipment over its remaining life of 8
years
Prepare the consolidation entries for 2018
related to the equipment sale. (The
intercompany consolidation entry)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4cf9133d-2dd4-45f6-b833-be7167a81438%2F0f1e1daa-504b-47a3-8b2b-4342ec4e6894%2Fyi3nzrl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On Jan 2, 2016. Parent sells to its wholly
owned investee equipment that had cost
$150,000. The selling price was $142,800
and accumulated depreciation on that date
was $62,000. The subsidiary depreciates
the equipment over its remaining life of 8
years
Prepare the consolidation entries for 2018
related to the equipment sale. (The
intercompany consolidation entry)
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