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How much depreciation expense will the subsidiary record

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Parent buys building (useful life 10 years) for $3,000,000 on January 1, 2020. On that same date, parent sells building to 80% owned subsidiary for $4.000,000. Subsidiary will use the same 10 year use?il life.

Question a. How much Depreciation Expense will the subsidiary record in 2020

Question b. How much is consolidated Depreciation expense in 2020

Question c. What two worksheet entries are required for year end 2020 (hint: entries TA and ED)

Reference no: EM132725545

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