question archive Pillar Company owns 70 percent of Salt Company's outstanding common stock
Pillar Company owns 70 percent of Salt Company's outstanding common stock
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Pillar Company owns 70 percent of Salt Company's outstanding common stock. On December 31, 2018, Salt sold equipment to Pillar at a price in excess of Salt's carrying amount, but less than its original cost. On a consolidated balance sheet at December 31, 2018, the carrying amount of the equipment should be reported at:
Option 1
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