Question: only 35 and 36 please QUESTION 33 Alpha owns 100% of the stock in Omega. On January 1, Year 1, Alpha owns a building with

only 35 and 36 please QUESTION 33 Alpha owns 100% of the stock in Omega. On January 1, Year 1, Alpha owns a building with a cost of $30 million, and accumulated depreciation of $20

only 35 and 36 please

QUESTION 33 Alpha owns 100% of the stock in Omega. On January 1, Year 1, Alpha owns a building with a cost of $30 million, and accumulated depreciation of $20 million. It has 10 more years of expected useful life. Alpha uses the equity method for accounting for investments. What would be the entries that Alpha would make in year 1 and 2 for this builidng, if it continues to own it? (4 points) Give two entries. QUESTION 35 Use the same facts as the prior two questions. Who would depreciate the building in Year 1, and what would be the amount of the depreciation? (2 points) QUESTION 36 Use the same facts as the previous 3 questions. What consolidation entry or entries, if any, is needed in Year 1? (3 points)

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