2 quired its 75% interest in its subsidiary on January 1, 2008, On A parent company ac 174, the Parent sold Equipment to the Subsidiary (downstream) for a cash price f 240,000. The Parent acquired the equipment at a cost of $480000 and depreciated the equipment ment over its 10-year useful life using the straight-line method (no salvage value). The Parent had depreciated the equipment for 6 years at the time of sale. The subsidiary retained the depreciation policy of the subsidiary and depreciated the equipment over its remaining 4 year useful life. Prepare the i-gain consolidation entries for the year ended Dec 31, 2013, related to the intercompany sale of the equipment. Version 2 Page 7 Val rL nght A. Mohawk B. Niagara C. Shapiro D. McDonald. Baurer for 12. Stevens sells personal property to $1,700 due in 30 davs from the date of deliver Stevens assigns the account to Adams without consideration. Which action precludes revocation by Stevens? A. Death or bankruptcy of Stevens B. Subsequent assignment of the same rights Stevens to George C. Notice to Adams by Stevens of revocation. D. Assignment by Adams to Ansel for consideration. 13. On February 1, Burns contracted in writing wit Nagel to sell Nagel a used car. The contract provi that Burns was to deliver the car on February 15 Nagel was to pay the $800 purchase price not lat than March 15. On February 21, Burns assigned contract to Ross for $600. Nagel was not notified the assignment. Which of the following etnt true