Intercompany Transactions F10-20b
What is the eliminating entry for the period of intercompany sale, when a fixed asset is sold by the subsidiary to the parent?
DR: Fixed Asset
DR: Gain on Sale
CR: Accumulated Depreciation
What is the eliminating entry for the period of intercompany sale, when a fixed asset is sold by the subsidiary to the parent?
DR: Fixed Asset
DR: Gain on Sale
CR: Accumulated Depreciation