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On January 1, 2018, Tatum sells equipment to Toole at the current market value of $100,000. Tatum originally purchased the equipment for $120,000 and depreciated
On January 1, 2018, Tatum sells equipment to Toole at the current market value of $100,000. Tatum originally purchased the equipment for $120,000 and depreciated it for four years. The book value at the time of the sale was $96,000. The equipment had a remaining useful life of years. Required: Prepare the consolidation entries for December 31, 2018 and 2019
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Managerial Accounting
Authors: Unknown Author
1st Edition
007723023X, 978-0077230234
