On January 2, 2019 Pedro Company sold equipment with carrying amount of $45,000 to Sandro Company, its
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On January 2, 2019 Pedro Company sold equipment with carrying amount of $45,000 to Sandro Company, its wholly-owned subsidiary, for $60,000. The equipment had a remaining useful life of three years with zero salvage value. Both firms use the straight-line depreciation method, and assume no residual value.
If Pedro forgot to make year-end equity adjustments, what was the Padro’s investment in Sandro at December 31, 2019?
Related Book For
Advanced Accounting
ISBN: 9780132568968
11th Edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
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