On January 1, 2000 the John Company acquired all of the stock of the Stephan Company at book value
John accounts for its investment in Stephan using the intitial value (cost) method and Stephan Company doesn't pay any dividends
On January 1, 2015 the Stephan Company purchased a car for $80,000. Stephan believes the car will last 10 years and have no salvage value
Stephan uses straight-line depreciation for its assets
On January 1, 2019 the Stephan company sold the truck to John Company for a one-year 10% note ($60000) with interest and principal due 1/1/2020
John believes the truck will last 6 years and have no salvage value. John also uses straight-line depreciation for its assets
On January 1, 2021 John Company sold the truck to Krabs Company for $19,000 cash.
REQUIRED:
	A) Determine Stephan's annual depreciation on the truck
	B) make the journal entry Stephan makes when it sells the truck to John Company
	C) make the journal entry John makes when it buys the truck from Stephan Company
	D) determine John's annual depreciation on the truck
	E) make the necessary worksheet entries connected with the truck in 2019
	F) Unconsolidated John reported income of $900,000 and Stephan reported income of $100,000 what was consolidated income 2019?
	G) make the necessary worksheet entries connected with the truck in 2020
	H) Unconsolidated John reported income of $900,000 and Stephan reported income of $100,000 what was consolidated income 2020?
	I) make John's journal entry when it sells the truck to Krabs Company in 2021
	J) Make the necessary worksheet entries connected with the truck in 2021