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What amount reduces the net equipment account

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Problem 1: A parent company acquires all of a subsidiary's voting stock at the beginning of 2015. At the date of acquisition, the subsidiary's equipment had a book value of $40 million and a fair value of $25 million. The equipment had a 10-year remaining life, straight-line. Consolidation eliminating entry (R), on the consolidation working paper for 2018, reduces the net equipment account by what amount?

a. $10.5 million
b. $15.0 million
c. $ 9.0 million
d. $17.5 million

Reference no: EM132837978

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