On december 1 2006 passey corporation sold a machine with a

Reference no: EM13610090

On December 1, 2006, Passey Corporation sold a machine with a carrying amount of $150,000 to its 80%-owned subsidiary, Scully Company, for $200,000. Scully adopted a four-year economic life, no residual value, and the sum-of-the-years'-digits method of depreciation for the machine. If correct working paper eliminations are prepared for Passey Corporation and subsidiary on November 30, 2007, the end of the fiscal year, Passey's net income to be included in consolidated net income is (disregarding income taxes).

Reference no: EM13610090

Questions Cloud

Included in the identifiable net assets of sapphire company : included in the identifiable net assets of sapphire company on the date of its business combination with palumbo

A simple random sample of 120 sat scores has a mean of 1540 : a simple random sample of 120 sat scores has a mean of 1540. assume that sat scores have a population standard

In a medical x-ray tube electrons are accelerated to a : in a medical x-ray tube electrons are accelerated to a velocity of 108 ms and then slammed into a tungsten target. as

On january 2 2006 pagan corporation acquired 40 of the : on january 2 2006 pagan corporation acquired 40 of the outstanding common stock of sancto company for 1000000. on that

On december 1 2006 passey corporation sold a machine with a : on december 1 2006 passey corporation sold a machine with a carrying amount of 150000 to its 80-owned subsidiary scully

A researcher uses a repeated-measures design to compare : a researcher uses a repeated-measures design to compare individuals performance before treatment with their performance

A pair of parallel plates produces a uniform electric field : a pair of parallel plates produces a uniform electric field of 900vm. if an electron is released at rest from the

A car moving initially at 50mih begins decelerating at a : a car moving initially at 50mih begins decelerating at a constant rate 100ft. short of a stoplight. a. if the car comes

Assuming that a company has 365 million in annual sales : assuming that a company has 365 million in annual sales and a gross margin of 20 how much investment will each

User Account

All Pages