building from Split for $$300,000.$ Split had purchased the building on January $1,20$X$1,$ at a cost of $$400,000$ and used straight$-$line

depreciation on an expected life of $20$ years. The asset's total estimated economic life is unchanged as a result of the intercompany

Requlred:

a$.$ What amount of depreciation expense on the building will Pea report for $209?$

b$.$ What amount of depreciation expense would Split have reported for $209$ if it had continued to own the building?

c$.$ Prepare the consolidation entry or entries needed to eliminate the effects of the intercompany building transfer in preparing a full

set of consolidated financial statements at December $31,209.$

Note: If no entry ls requlred for a transactlon$/$event$,$ select $"$No journal entry requlred" In the first account fleld.

Consolidation

Worksheet Entries

Record the entry to eliminate the gain on the equipment and to correct the

asset's basis.

Note: Enter debits before credits.

d$.$ What amount of income will be assigned to the noncontrolling interest in the consolidated income statement for $209$ if Split

reports net income of $$40,000$ for $209?$

e$.$ Split reports assets with a book value of $$350,000$ and liabilities of $$150,000$ at January $1,209,$ and reports net income of $

$40,000$ and dividends of $$15,000$ for $209.$ What amount will be assigned to the noncontrolling interest in the consolidated

balance sheet at December $31,20$X$9,$ assuming the fair value of the noncontrolling interest at the date of acquisition was equal to

$30$ percent of Split Company's book value?