On January 1, 2016 rat Company acquired all outstanding stock of Mint Company. At that...
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Accounting
On January 1, 2016 rat Company acquired all outstanding stock of Mint Company. At that time Mint had a car with a book value of $100,000 and a fair market value of $200,000. This car (on January 1, 2016) had a 10 year life with no salvage and Mint uses straight-line depreciation. What worksheet entry is needed on December 31, 2017 connected with this equipment?
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