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A corp purchased 100 percent of B corp in February 1, 2020. On june 1, 2020 A corp sold Machinery to B corp with Book
A corp purchased 100 percent of B corp in February 1, 2020. On june 1, 2020 A corp sold Machinery to B corp with Book value of 50,000 and selling price of 100,000. There is still 48 months of useful life left in the date of acquisition. What will be the eliminating entries on December 31, 2020? A. debit Accumulated Depreciation 12,500 credit Depreciation expense 12,500 B. debit Accumulated Depreciation 11,458.33 credit Depreciation expense 11,458.33 C.debit Accumulated Depreciation 7,965 credit Depreciation expense 7,955 D. debit Accumulated Depreciation 6,818 credit Depreciation expense 6,818
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