16. Company A acquires 80% of outstanding shares of Company B. On 1/1/2016, parent Company sold...

  

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16. Company A acquires 80% of outstanding shares of Company B. On 1/1/2016, parent Company sold to subsidiary company machines at a price of 18,000 $, noting that the cost of machines in parent books was 25,000 S and the balance of the accumulated depreciation of machines was 9,000 $, the remaining life of the machines is 4 years, and the machines were consumed using the straight-line method. Company B estimated the useful life of the machines as 3 years and decided to consume them using the sum-of-the-years method. The net profit of subsidiary at the end of 2016 is 40,000S, and 80,000S in 2017. based on the above information solve questions 16-17. 17.- the working sheet entry at the end of 2016 to adjust the machines depreciation expense is: (3 Points) O debit machines accumulated depreciatlon 5,000, credit machines depreciation expense 5,000 O debit machines accumulated depreciation 4 000 credit machines depreciation expense 4,000 O debit machines accumulated depreciation 3 000, credit mach ines depred'ation expense 3,000 O no entry 16. Company A acquires 80% of outstanding shares of Company B. On 1/1/2016, parent Company sold to subsidiary company machines at a price of 18,000 $, noting that the cost of machines in parent books was 25,000 S and the balance of the accumulated depreciation of machines was 9,000 $, the remaining life of the machines is 4 years, and the machines were consumed using the straight-line method. Company B estimated the useful life of the machines as 3 years and decided to consume them using the sum-of-the-years method. The net profit of subsidiary at the end of 2016 is 40,000S, and 80,000S in 2017. based on the above information solve questions 16-17. 17.- the working sheet entry at the end of 2016 to adjust the machines depreciation expense is: (3 Points) O debit machines accumulated depreciatlon 5,000, credit machines depreciation expense 5,000 O debit machines accumulated depreciation 4 000 credit machines depreciation expense 4,000 O debit machines accumulated depreciation 3 000, credit mach ines depred'ation expense 3,000 O no entry

Answer rating: 100% (QA)

Option A debit machines accumulated depreciation 500... View the full answer