{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-28T00:04:12-04:00", "answer_date": "2024-05-28 00:04:12", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1807768", "url": "\/study-help\/questions\/pitcher-corporation-purchased-60-percent-of-softball-corporations-voting-common-1807768", "question_creation_date_js": "2024-05-28T00:04:12-04:00", "question_creation_date": "May 28, 2024 12:04 AM", "meta_title": "[Solved] Pitcher Corporation purchased 60 percent | SolutionInn", "meta_description": "Answer of - Pitcher Corporation purchased 60 percent of Softball Corporation's voting common stock on January 1, 20X1. On December | SolutionInn", "meta_keywords": "pitcher,corporation,purchased,60,percent,softball,s,voting,common,stock,january,1", "question_title_h1": " Pitcher Corporation purchased 60 percent of Softball Corporation's voting common stock on January 1, 20X1. On December 31, 20X5, Pitcher received $ 210,000 from", "question_title": " Pitcher Corporation purchased 60 percent of Softball Corporation's voting common stock", "question_title_for_js_snippet": "Pitcher Corporation purchased 60 percent of Softball Corporation's voting common stock on January 1, 20X1 On December 31, 20X5, Pitcher received $ 210,000 from Softball for a truck Pitcher had purchased on January 1, 20X2, for $300,000 The truck is expected to have a 10 year useful life and no salvage value Both companies depreciate trucks on a straight line basis Required a Prepare the worksheet consolidation entry or entries needed at December 31, 20X5, to remove the effects of the intercompany sale Note If no entry is required for a transaction event, select No journal entry required in the first account field No Event A 1 Gain on sale Truck Accumulated depreciation Answer is not complete Accounts Debit Credit 90,000", "question_description": "\"image\"image", "transcribed_text": "Pitcher Corporation purchased 60 percent of Softball Corporation's voting common stock on January 1, 20X1. On December 31, 20X5, Pitcher received $ 210,000 from Softball for a truck Pitcher had purchased on January 1, 20X2, for $300,000. The truck is expected to have a 10-year useful life and no salvage value. Both companies depreciate trucks on a straight-line basis. Required: a. Prepare the worksheet consolidation entry or entries needed at December 31, 20X5, to remove the effects of the intercompany sale. Note: If no entry is required for a transaction\/event, select \"No journal entry required\" in the first account field. No Event A 1 Gain on sale Truck Accumulated depreciation Answer is not complete. Accounts Debit Credit 90,000", "related_book": { "title": "Financial accounting", "isbn": "9780135114933, 136108865, 978-0136108863", "edition": "8th Edition", "authors": "Walter T. Harrison, Charles T. Horngren, William Bill Thomas", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/196.jpg", "uri": "\/textbooks\/financial-accounting-8th-edition-196", "see_more_uri": "" }, "free_related_book": { "isbn": "1936335727", "uri": "\/textbooks\/rsmeans-residential-cost-data-2013-2013th-edition-9781936335725-179800", "name": "RSMeans Residential Cost Data 2013", "edition": "2013th Edition" }, "question_posted": "2024-05-28 00:04:12", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/accounting-in-many-homes-installation-of-a-pv-system-is-not-feasible-140864", "description": "On the basis of the given scenario create a file Expenses.txt, Open the file and copy it into another Expenses2.txt, Also show output on screen A college has announced a total budget of 50,000Rs.for...", "stars": 3 }, { "url": "\/unique-creations-holds-a-monopoly-position-in-the-production-and", "description": "Unique Creations holds a monopoly position in the production and sale of magnometers. 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