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Hi , I don't understand how to do this accounting question. Please help. On 1 July 2 0 1 8 , the subsidiary sold a
Hi I don't understand how to do this accounting question. Please help.
On July the subsidiary sold a building to the parent for $ in cash. This item had an original cost of $ and accumulated depreciation at time of sale to the subsidiary of $ The remaining useful life of that building is estimated to be years and the future economic benefits are assumed to be derived consistently throughout the life. The building was sold to external entities on April for $ Assume an income tax rate of Prepare the consolidation worksheet adjusting entries for preparation of the consolidated financial statements as at June
Note: Enter your answers to the nearest dollar.
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