Business, 30.10.2019 00:31 phuvn5543

Sky corporation owns 75 percent of earth company's stock. on july 1, 20x8, sky sold a building to earth for $33,000. sky had purchased this building on january 1, 20x6, for $36,000. the building's original eight-year estimated total economic life remains unchanged. both companies use straight-line depreciation. the equipment's residual value is considered negligible. based on the information provided, in the preparation of the 20x8 consolidated financial statements, building will be in the consolidating entries.

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Sky corporation owns 75 percent of earth company's stock. on july 1, 20x8, sky sold a building to ea...

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