On January 1, 2022, Pink Corp. 'sold' a machine for $14200 to Slink Corp., its wholly-owned subsidiary. Pink paid $31800 for this machine. At January 1, 2022, accumulated depreciation was $6600. The remaining useful life is assumed to be 10 years. Straight line depreciation is used by both companies. 

In Pink's December 31, 2022 consolidated balance sheet, at what amount should the MACHINE be reported?

Answer rating: 100% (QA)

Since Slink Corp is a whollyowned subsidiary of Pink Corp any transactions between the tw... View the full answer