Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Old MathJax webview Give me the final answer please !!!! Company X owns 75% of the shares of Company Y. On 1/1/2016, the holding company

Old MathJax webview

Give me the final answer please !!!! Company X owns 75% of the shares of Company Y. On 1/1/2016, the holding company sold the machines to the subsidiary company at a price of 70,000 dinars, knowing that the cost of the machines in the books of X when selling was 80,000 dinars and the balance of the depreciation complex of the machines was 20,000 dinars. The real remaining life of the machines was 4 years and they are depreciated using the straight-line method. The company estimated the productive life of the machines at 4 years and decided to depreciate them using the straight-line method. On 1/1/2018 Company Y sold the machines to third parties at a price of 36000 dinars... What is the amount of gains from selling machines that will appear in the consolidated income statement for the year 2018?

I Have the solve but give me the final answer please!!!! Company X owns 75% of the shares of Company Y. On 1/1/2016, the holding company sold the machines to the subsidiary company at a price of 70,000 dinars, knowing that the cost of the machines in the books of X when selling was 80,000 dinars and the balance of the depreciation complex of the machines was 20,000 dinars. The real remaining life of the machines was 4 years and they are depreciated using the straight-line method. The company estimated the productive life of the machines at 4 years and decided to depreciate them using the straight-line method. On 1/1/2018 Company Y sold the machines to third parties at a price of 36000 dinars... What is the amount of gains from selling machines that will appear in the consolidated income statement for the year 2018?

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

Managerial Accounting Creating Value In A Dynamic Business Environment

Authors: Ronald Hilton, David Platt

13th Edition

1264100698, 9781264100699

More Books

Students also viewed these Accounting questions

Question

Why must in-service training or on-the-job education be continuing?

Answered: 1 week ago