Business, 26.02.2020 21:31 nati5720

1. A parent owns 80% of its subsidiary. The parent sells equipment to the subsidiary for a gain of $80,000 at the beginning of 2019. At that time, the equipment had a remaining life of five years. The subsidiary uses straight-line depreciation with no residual value. How will the intercompany eliminations for this transaction affect consolidated income for 2020, assuming the subsidiary still holds the equipment? A. $64,000 decrease B. $12,800 increase C. $16,000 increase D. $48,000 decrease

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1. A parent owns 80% of its subsidiary. The parent sells equipment to the subsidiary for a gain of $...

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