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ON JULY 1, 2015, PEARL INDUSTRIES SOLD ADMINISTRATIVE EQUIPMENT WITH A BOOK VALUE OF 480000...

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Accounting

ON JULY 1, 2015, PEARL INDUSTRIES SOLD ADMINISTRATIVE EQUIPMENT WITH A BOOK VALUE OF 480000 TO ITS subsidiary, Shriek shoes, for 560000 .at the date of sale, the equipment had a remaining life of five years. it is a straight line depreciated on shriek's books. it is now December 31, 2017, the end of the accounting year, and you are preparing the working paper to consolidate the trial balance of pearls and shrieks. shriek still owns the

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