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5. Sasa Corporation sold equipment with a five-year remaining useful life and a book value of $25,000 to its are company, Pingkan Corporation, which owns
5. Sasa Corporation sold equipment with a five-year remaining useful life and a book value of $25,000 to its are company, Pingkan Corporation, which owns 80 percent in Sasa, for $30,000 on January 1, 2014. How can Pingkan and Subsidiary eliminate the unrealized gains from the transaction at December 31, 2016? Debit to gain on sale of equipment for $5,000 0 Credit to equipment for $5,000 c Debit to Investment in Sasa for $2,000 d None of the above nining useful life and a book value of $36,000 to its parent lanuary 10
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