Ping corporation sold equipment with a five years remaining useful life to its 80 percent-owned subsidiary, Song
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Question:
Ping corporation sold equipment with a five years remaining useful life to its 80 percent-owned subsidiary, Song corporation, on January 1, 2014. The equipment’s cost was 100,000 $ and it sold for 130,000$. The net adjustment to compute 2016 consolidated income will be?
Select one:
a. Increasing 6000 $.
b. Decreasing 30,000 $
c. Decreasing 18,000 $
d. Decreasing 12,000 $
Related Book For
Advanced Accounting
ISBN: 9780132568968
11th Edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
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