Question
On January 1, 2021, Pink Corp. 'sold' a machine for $19000 to Slink Corp., its wholly-owned subsidiary. Pink paid $24000 for this machine. At January
On January 1, 2021, Pink Corp. 'sold' a machine for $19000 to Slink Corp., its wholly-owned subsidiary. Pink paid $24000 for this machine. At January 1, 2021, accumulated depreciation was $8000. The remaining useful life is assumed to be 5 years. Straight line depreciation is used by both companies. In Pink's December 31, 2021 consolidated balance sheet, at what amount should the MACHINE be reported?
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People Centric Skills Interpersonal And Communication Skills For Financial Professionals
Authors: Danny M. Goldberg
2nd Edition
1119669308, 978-1119669302
