Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

also p owns 90 percent of s. how would this affect the basic consolidation entries? thanks s company sold a machine to p on jan

also p owns 90 percent of s. how would this affect the basic consolidation entries? thanks
image text in transcribed
s company sold a machine to p on jan 1, 2014. s company orignally bought the machine on jan 1, 2011. straight line deprecation is being used. the orignal life of the machine has not changed original cosst to s company 150,000 sales price to p company 108,750 orginal life of the machine(years) 8. how would this look in terms of deprecation each year? like how woudl this affect Ps book in 2016? thanks

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Petroleum Accounting: Principles, Procedures; And Issues

Authors: Dennis Jennings, John Brady, Rich Shappard, Craig Friou

8th Edition

0940966328, 978-0940966321

More Books

Students also viewed these Accounting questions