Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 09 Oct 2017 My Price 4.00

Thomson Corporation

Thomson Corporation owns 70 percent of the outstanding stock of Stayer, Incorporated. On January 1, 2013, Thomson acquired a building with a 10-year life for $460,000. Thomson depreciated the building on the straight-line basis assuming no salvage value. On January 1, 2015, Thomson sold this building to Stayer for $430,400. At that time, the building had a remaining life of eight years but still no expected salvage value. In preparing financial statements for 2015, how does this transfer affect the computation of consolidated net income?

a. Net income is reduced by $62,400.

b. Net income is reduced by $59,440.

c. Net income is reduced by $70,200.

d. Net income is reduced by $54,600

Answers

Maurice Tutor
(5)
Status NEW Posted 09 Oct 2017 05:10 PM My Price 4.00

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