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Philip Inc owns 100% of Dave Inc's common stock. On Jan 1, 20X1, Philip sold to Dave $50,000 of equipment with a carrying amount of
Philip Inc owns 100% of Dave Inc's common stock. On Jan 1, 20X1, Philip sold to Dave $50,000 of equipment with a carrying amount of $20,000. Dave depreciates the equipment over a ten-year remaining li...
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