E7-8 Transfer of Depreciable Asset at Year-End LO7-5 Pitcher Corporation purchased 60 percent of Softball Corporation's voting common stock on January 1, 20X1. On December 31, 20X5, Pitcher received $210,000 from Softball for a truck Pitcher had purchased on January 1, 20x2, for $300,000. The truck is expected to have a 10-year useful life and no salvage value. Both companies depreciate trucks on a straight-line basis. Required a. Give the worksheet consolidation entry or entries needed at December 31, 20Xs, to remove the effects of the intercompany sale. b. Give the worksheet consolidation entry or entries needed at December 31, 20X6, to remove the effects of the intercompany sale. E7-9 Transfer of Depreciable Asset at Beginning of Year LO 7-5 Pitcher Corporation purchased 60 percent of Softball Corporation's voting common stock on January 1, 20X1. On January 1, 20X5, Pitcher received $345.000 from Softball for a truck Pitcher had purchased on January 1, 20X2, for $300,000. The truck is expected to have a 10-year ul life and no salvage sale. Both companies depreciate tracks on a straight-line basis Required a. Give the worksheet consolidation entry or entries needed at December 31, 2035, to remene the effects of the company sale b. Give the worksheet consolidation entry or entries needed at December 31, 2026, to remove the acts of the manuale E7-10 Sale of Equipment to Subsidiary in Current Period ? W N 7/1 hp a hp Pilches Corporation purchased 60 percent of Softball Corporation's voting common stock on January 1, 20X1. On December 31, 20x5, Pitcher received $10,000 to Softball for a track Pincher had purchased on January 1, 20x2, for $300,000. The track is expected to have a 10-year useful life and se salvage at Bote companies depreciate tracks on a straight-line basis Required a. Give the worksheet comelidation entry or entries needed at December 31, 2025, to remove the effects of the intercompany sale. b. Give the worksheet consolidation entry or entries needed at December 31, 2036, to remove the effect of the intercompany sale. E7-9 Transfer of Depreciable Asset at Beginning of Year LO 7-5 Pachet Corporation purchased 60 percent of Softball Comptations vating concestock anlamuary 1, 20X1. Only 1, 2023, Pachar med $25.000 - Softball for a truck ich had purchased on lauary 1, 2012 for $300,000. There is expected to be 18-year fallife and to slapevale Both companies depreciate trucks on a straight line busin Required a. Groete worksheet consolidation or stressede December 31, 2025, tame the effects of the company ale b. Gre the worksheet comodation entry or stresseded at December 31, 20% te thellects of the intercompany E7-10 Sale of equipment to Subsidiary in Current Period LO7-5 Omary 1, 2007 Pow Cars old Shower Carportalechuelo 50.000 and for a wedge of 14.00 The total de 15 and deprecated on a Pillow Boldspel Song Required ? hap a
