Business, 15.11.2019 01:31 nlaurasaucedop7gfut
Petunia company owns 100% of sage corporation. on january 1, 2017, petunia sold equipment to sage at a gain. petunia had owned the equipment for four years and used a ten-year, straight-line rate with no residual value. sage is using an eight-year, straight-line rate with no residual value. in the consolidated income statement, sage's recorded depreciation expense on the equipment for 2017 will be reduced by:
a) 10% of the gain on sale
b) 12.5% of the gain on sale
c) 80% of the gain on sale
d) 100% of the gain on sale
Answers: 3
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Petunia company owns 100% of sage corporation. on january 1, 2017, petunia sold equipment to sage at...
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