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Paper Corporation owns 75 percent of Scissor Company's stock. On July 1, 20X8, Paper sold a...

Paper Corporation owns 75 percent of Scissor Company's stock. On July 1, 20X8, Paper sold a building to Scissor for $33,000. Paper had purchased this building on January 1, 20X6, for $36,000. The building's original eight-year estimated total economic life remains unchanged. Both companies use straight-line depreciation. The building's residual value is considered negligible.

A.) Based on the information provided, in the preparation of the 20X8 consolidated financial statements, building will be _____ in the consolidating entries.

B.) Based on the information provided, the gain on sale of the building eliminated in the consolidated financial statements for 20X8 is:

C.) Based on the information provided, while preparing the 20X8 consolidated income statement, depreciation expense will be:

D.) Based on the information provided, in the preparation of the 20X9 consolidated income statement, depreciation expense will be:

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