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Determine the consolidated depreciation expense

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Question - On January 2, 2015, XXX Company sold a truck with book value of $15,000 to YYY, its wholly-owned subsidiary, for $20,000. The truck had a remaining useful life of five years with zero salvage value. Both firms use the straight-line depreciation method. If XXX failed to make year-end adjustments/eliminations on the consolidated working papers in 2015, determine the consolidated depreciation expense for 2015?

A) $5,000 too high.

B) $5,000 too low.

C) $1,000 too low.

D) $1,000 too high.

Reference no: EM133036746

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