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P Company Bought 60% of the Common Stock of S

Question 22

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P Company bought 60% of the common stock of S Company on January 1, 2017. On January 1, 2017 there was an intercompany sale of equipment at a gain of $63,000. The equipment had an estimated remaining life of six years. Net incomes of the two companies from their own operations (including sales to affiliates) were as follows: P Company bought 60% of the common stock of S Company on January 1, 2017. On January 1, 2017 there was an intercompany sale of equipment at a gain of $63,000. The equipment had an estimated remaining life of six years. Net incomes of the two companies from their own operations (including sales to affiliates) were as follows: A. If S Company sold the equipment to P Company, fill in the following matrix: B. If P Company sold the equipment to S Company, fill in the following matrix:
A. If S Company sold the equipment to P Company, fill in the following matrix: P Company bought 60% of the common stock of S Company on January 1, 2017. On January 1, 2017 there was an intercompany sale of equipment at a gain of $63,000. The equipment had an estimated remaining life of six years. Net incomes of the two companies from their own operations (including sales to affiliates) were as follows: A. If S Company sold the equipment to P Company, fill in the following matrix: B. If P Company sold the equipment to S Company, fill in the following matrix: B. If P Company sold the equipment to S Company, fill in the following matrix: P Company bought 60% of the common stock of S Company on January 1, 2017. On January 1, 2017 there was an intercompany sale of equipment at a gain of $63,000. The equipment had an estimated remaining life of six years. Net incomes of the two companies from their own operations (including sales to affiliates) were as follows: A. If S Company sold the equipment to P Company, fill in the following matrix: B. If P Company sold the equipment to S Company, fill in the following matrix:

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