Thames ford Company completely owns Salt Inc. On January 2, Y7 Thames ford sold Grand Bend machinery
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Thames ford Company completely owns Salt Inc. On January 2, Y7 Thames ford sold Grand Bend machinery at its carrying amount of $30,000. Thames ford had the machinery two years before selling it and used a five-year straight-line depreciation method, with no residual value. Grand Bend will use a three-year straight-line method.
In the Y7 consolidated income statement, the depreciation expense
increased by $4,000.
needed no adjustment.
increased by $30,000.
decreased by $4,000.
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
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