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aimtobeacpa
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Joined: 10 Dec 2009
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Posted: 21 Jul 2010 at 18:00 \| IP Logged

If an intercompany fixed asset transaction for cash results in a gain to the selling affiliate, at the end of the period of the transaction, which one of the following accounts is most likely to be increased as a result of the elimination of the intercompany fixed asset transaction

	A. Gain on asset sale.
	B. Depreciation expense.
	C. Accumulated depreciation. answer can someone explain this?

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CPABOUND2010
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Posted: 27 Jul 2010 at 01:25 \| IP Logged

You have to restore the Accumulated depreciation that was taken off of the books when the sale took place< id="gwProxy" ="">< ="jsCall();" id="jsProxy" ="">

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