P, 100% owner of S, sold S equipment costing $15,000 with accumulated depreciation of $6,000 on 1/1/2020

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P, 100% owner of S, sold S equipment costing $15,000 with accumulated depreciation of $6,000 on 1/1/2020 for $12,000. The equipment had been purchased on 1/1/2016 and has a 10-year total life. Make all required consolidating entries for 2020.

ACCOUNT	DEBIT	CREDIT

If SNI = $5,000 in 2020 and $,6,000 in 2021, what will be equity income each year?

Posted Date: Dec 14, 2021 12:38 PM

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P, 100% owner of S, sold S equipment costing $15,000 with accumulated depreciation of $6,000 on 1/1/2020

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Annual depreciation 1500010 Annual depreciation 1500 Age of equipment Age of equipment 600... View the full answer

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