Question

On January 1, 2016, Pulte sold a building to its wholly owned subsidiary, Scott, for $2,114,104....

On January 1, 2016, Pulte sold a building to its wholly owned subsidiary, Scott, for $2,114,104. On that date, Pulte carried the building on its books at an original cost of $879,661 and accumulated depreciation of $259,196. Pulte had estimated 6 years total useful life for the building, and was depreciating it on a straight-line basis with $190,785 estimated salvage value.

What net book value for this building should be reported on Pulte's consolidated balance sheet as of 12/31/2016?

Homework Answers

Answer #1

The answer has been presenetd in the supporting sheet.For detailed answer refer to the supporting sheet.

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