Information for Questions 29–30 Intercompany Depreciable Tra…
Information for Questions 29–30 Intercompany Depreciable Transactions Penn Co. owns 80% of Senn Co.’s stock. On January 3, 20×4, Senn Co. sold equipment with an original cost of $30,000 and a carrying value of $12,000 to Penn Co. for $16,000. The equipment had a remaining useful life of 4 years and was depreciated using the straight-line method by both companies. For your answers: Round your answer to the nearest dollar. Enter your answer as a number with no decimal places and no dollar ($) sign. You may enter the number with or without the comma separator (e.g., 28,374 or 28374). For the fill in multiple blanks question, if there is no entry, you must enter a 0. Blanks are marked as incorrect answers. For partial credit: After stating your answer, show how you arrived at your answer. (e.g., 13,000 ) Include any explanations or logic used to arrive at your answer.