Business, 09.07.2020 02:01 talanna394

Pitcher Corporation purchased 60 percent of Softball Corporation’s voting common stock on January 1, 20X1. On December 31, 20X5, Pitcher received $243,000 from Softball for a truck Pitcher had purchased on January 1, 20X2, for $333,000. The truck is expected to have a 10-year useful life and no salvage value. Both companies depreciate trucks on a straight-line basis. Prepare the workshhet consolidation entry needed at december 31 20x1.

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Pitcher Corporation purchased 60 percent of Softball Corporation’s voting common stock on January 1,...

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