subsidiary Building book value 12/31/11 - 300,000 subsidiary building fair value 12/31/11 - 152,000 remaining life - 5 yrs  sept 30, 2012 sold to its parent at a gain of 10,000.  dec 31,2014 same building sold by the parent to outsider at a loss of 5,000   question : Compute for the amount of proceeds received by APA Company from the disposal of building on December 31, 2014.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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subsidiary Building book value 12/31/11 - 300,000

subsidiary building fair value 12/31/11 - 152,000

remaining life - 5 yrs

 sept 30, 2012 sold to its parent at a gain of 10,000. 

dec 31,2014 same building sold by the parent to outsider at a loss of 5,000

 

question : Compute for the amount of proceeds received by APA Company from the disposal of building on December 31, 2014. 

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