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Accounting Assignment/ Professional Essay Writers

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March 17th, 2020

PTT Corporation owns 80% of SDW Company, acquired two years ago. PTT sold equipment to SDW on January 1, 2012, for $300,000. PTT’s book value for the equipment was $200,000 (accumulated depreciation $50,000). The equipment had a remaining life of five years, to be recorded on a straight-line basis. SDW still holds the equipment.

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Required: For 2012 and 2013 prepare, in general, journal form, the entries necessary on the books of PTT and SDW to account for the equipment and building. Get Accounting help Today

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