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On January 1, 2016, Pulte sold a building to its wholly owned subsidiary, Scott, for $2,114,104. On that date, Pulte carried the building on its
On January 1, 2016, Pulte sold a building to its wholly owned subsidiary, Scott, for $2,114,104. On that date, Pulte carried the building on its books at an original cost of $879,661 and accumulated depreciation of $259,196. Pulte had estimated 6 years total useful life for the building, and was depreciating it on a straight-line basis with $190,785 estimated salvage value.
What net book value for this building should be reported on Pulte's consolidated balance sheet as of 12/31/2016?
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