Clemente co owned all of the voting common stock of snider

Assignment Help Accounting Basics

Reference no: EM13589652

Clemente Co. owned all of the voting common stock of Snider Co. On January 2, 2011, Clemente sold some equipment to Snider for $125,000. The equipment had a cost of $140,000. At the time of the sale, the balance in accumulated depreciation was $40,000. The equipment had a remaining useful life of five years and a $0 salvage value. Straight-line depreciation is used by both Clement and Snider. At what amount should the equipment (net of any depreciation) be included on the consolidated balance sheet dated 12/31/2011?

Reference no: EM13589652

Questions Cloud

The garcia corporation had the following sales forecast : the garcia corporation had the following sales forecast available july 12000 units august 14400 units and september

State the composition and the properties of the ketohexose : 1 research on the causes of coronary artery disease.on the basis of your research respond to the following state the

Obed corp makes three models of high performance cross : obed corp. makes three models of high performance cross country ski machines. current operating data are summarized

Asolution is known to contain bi3 ion or cd2 ion or both : a solution is known to contain bi3 ion or cd2 ion or both. describe the tests that could be used to seperate and

Clemente co owned all of the voting common stock of snider : clemente co. owned all of the voting common stock of snider co. on january 2 2011 clemente sold some equipment to

On may 1 2011 mosby company received an order to sell a : on may 1 2011 mosby company received an order to sell a machine to a customer in canada at a price of 2000000 mexican

Using the formula method determine the dollar sales that : using the formula method determine the dollar sales that are required to earn a target profit of 11432. liman

The books of seal company a calendar year taxpayer had : the books of seal company a calendar year taxpayer had assets and related information as detailed below as of december

Troutman enterprises issued 8 8-year 1000000 par value : troutman enterprises issued 8 8-year 1000000 par value bonds that pay interest semiannually on october 1 and april 1.

User Account

All Pages