On January 2, 2012, PT Koalisi acquired 75% shares of PT Partai for Rp. 5 billion. There
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Question:
Meanwhile, on July 1 2014, PT Koalisi sold a vehicle to PT Partai. The vehicle was purchased by PT Koalisi on July 1, 2012 for Rp.200,000,000 with an estimated useful life of five years and a residual value of Rp.50,000,000. the vehicle was purchased by PT Partai from PT Koalisi for Rp.150,000,000. PT Partai estimates that the remaining useful life of the car is two years and a residual value of Rp. 50,000,000. PT Koalisi and PT Partai use the straight-line depreciation method.
Required:
1. Make elimination journal entries for December 31, 2012, 2013 and 2014 regarding the sale of land from PT Partai to PT Koalisi!
2. Make elimination entries for December 31, 2014 regarding the sale of cars from PT Koalisi to PT Partai!
Related Book For
Modern Advanced Accounting in Canada
ISBN: 978-1259087554
7th edition
Authors: Hilton Murray, Herauf Darrell
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