Company X owns 75% of the shares of Company Y. On 1/1/2016, the holding company sold the
Question:
Company X owns 75% of the shares of Company Y. On 1/1/2016, the holding company sold the machines to the subsidiary company at a price of 70,000 dinars, knowing that the cost of the machines in the books of X when selling was 80,000 dinars and the balance of the depreciation complex of the machines was 20,000 dinars. The real remaining life of the machines was 4 years and they are depreciated using the straight-line method. The company estimated the productive life of the machines at 4 years and decided to depreciate them using the straight-line method. On 1/1/2018 Company Y sold the machines to third parties at a price of 36000 dinars... What is the amount of gains from selling machines that will appear in the consolidated income statement for the year 2018?
Canadian Income Taxation planning and decision making
ISBN: 9781259094330
17th edition 2014-2015 version
Authors: Joan Kitunen, William Buckwold