On 1114 parent co sold machinery to its subsidiary son corp

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On 1/1/14, Parent Co. sold machinery to its subsidiary, Son Corp. FOR $160,000. The machinery had a cost of $150,000, and the balance in accumulated depreciation was $54,000.The equipment had a useful life of eight years and a residual value of $0. Both companies use straight-line depreciation. On their separate 2014 income statements, Parent and Son reported depreciation expense of $8,000 and $20,000 respectively.

The amount of depreciation expense on the consolidated income statement for 2014 would have been_______bmit your detailed question here.

Reference no: EM13376388

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