On January 1,20X7,Server Company purchased a machine with an expected economic life of five years.On January 1,20X9,Server sold the machine to Patron Corporation and recorded the following entry:
Patron Corporation holds 75 percent of Server's voting shares.Server reported net income of $50,000,and Patron reported income from its own operations of $100,000 for 20X9.There is no change in the estimated economic life of the equipment as a result of the intercorporate transfer.
-Based on the preceding information,in the preparation of the 20X9 consolidated balance sheet,machine will be:
Definitions:
TFC
Total Fixed Cost, which refers to the sum of all costs that do not change with the level of output produced by a firm.
Techniques of Production
The methods and processes used in the transformation of inputs into outputs by firms in the production of goods and services.
Price of Output
The amount of money that a producer receives for selling one unit of a product or service in the market.
Price of Inputs
The cost of resources used in the production of goods and services, including materials, labor, and overheads.
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