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jaredsmailandst
jaredsmailandst
20.11.2019 • 
Business

Leahy, inc., sells a machine to its subsidiary, hopkins company, at a $20,000 gain. the machine was classified as property, plant and equipment on leahy's books and also will be classified as such on hopkins' books.
the consolidation entry(s) to eliminate the inter-company transaction at year-end will not include:
select one:
a. a credit to gain on sale of equipment.
b. a credit to depreciation expense.
c. a debit to gain on sale of equipment.
d. a debit to equipment.

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