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hello please i have already solved part A i need help to solve part B which has 2 part A and B. B.A and B.b
hello please i have already solved part A i need help to solve part B which has 2 part A and B.
Pam Corporation holds 70 percent ownership of Spray Enterprises, On December 31, 20X6, Spray paid Pam \$35,500 for a truck that Pam had purchased for $40,500 on January 1, 20X2. The truck was considered to have a 15 -year life from January 1, 20X2, and no residual value. Both companies depreciate equipment using the straight-line method. Required: a. Prepare the worksheet consolidation entry or entries needed on December 31,206, to remove the effects of the intercompany sale. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Consolidation Worksheet Entries Record the entry to ellminate the gain on the truck and to correct the asset's basis. Note: Enter deblts before credits. b. Prepare the worksheet consolidation entry of entries needed on December 31, 20x7, to remove the effects of the intercompany sale, Note: Do not round intermediate calculations. If po entry is required for a transaction/event, select "No journal entry required" in the first account fleld. Consolidation Worksheet Entries Record the entry to eliminate the gain on the truck and to correct the asset's basis. Note: Enter deblis before credits. b. Prepare the worksheet consolidation entry or entries needed on December 31,207, to remove the effects of the intercompany sale. Note: Do not round intermediate calculations. If po entry is required for a transaction/event, select "No journal entry require in the first account field. Consolidation Worksheet Entries Record the entry to adjust Accumulated Depreciation. Notes Enter debits before credits B.A and B.b
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