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QUESTION
Equipment costing $10 000 was sold by one entity within a group to another at a profit of $4 000. Accumulated depreciation at date of sale was $3 000....
Equipment costing $10 000 was sold by one entity within a group to another at a profit of $4 000. Accumulated depreciation at date of sale was $3 000. The consolidation entry will contain the following adjustment to the amount of the Equipment:
A.Increase of $1 000; B.Reduction of $1 000; C.Increase of $4 000; D.Reduction of $3 000.
