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In preparing its consolidated financial statements at December 31,207, the following consolidation entrins were included in the consolidation worksheet of Powder Corporation Powder awns 60

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In preparing its consolidated financial statements at December 31,207, the following consolidation entrins were included in the consolidation worksheet of Powder Corporation Powder awns 60 percent of Snow Corporotion's voting common stock On January 1,20X7, Snow sold Powder a building it had purchased for $610,000 on January 1, 20X1, and deprecieted on a 20 -year straight-line basis. Powder recorded depreciation for 207 using straight-line depreciation and the same useful ufe and residual value as Snow Required: o. What amount did Powder pay Snow for the building? b. What amount of accumulated depreciation did Snow report at January 1,20X7, prior to the sale? c. What annuat depredation expense did snow record prior to the sale? d. What expected residual value did Snow use in computing its annual deprecsation expense? e. What amount of depreciotion expense did Powder record in 207 ? t. If Snow reported net income of $7t000 for 207, whot amount of income wil be assigned to the noncontrolling interest in the consolidaled income statement for 207? 9. If Snow reponted net income of $64,000 for 208, what amount of income will be assigned to the noncontroling interest in the consolidated income statement for 208

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