On January 1, 2013, hat corp. sold a machine (cost of $1,000,000; accumulated depreciation of $400,000; and
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On January 1, 2013, hat corp. sold a machine (cost of $1,000,000; accumulated depreciation of $400,000; and remaining useful life of 6 years) to sub co. for $1,200,000. hat owns 80% of sub and the tax rate for both companies is 40%. this transaction will affect the amount of nci on the consolidated income statement by
a) decrease of $40,000
b) $0 (no impact)
c) increase of $40,000
d) increase of $200,000
e) decrease of $200,000
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date: