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What amount should be included in the consolidated statement

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Question - On January 1, 2018, Pauliski Corporation sold equipment to Shaiude Company, its wholly-owned subsidiary for P850,000. Pauliski had paid P1,250,000 for this equipment, and its book value at the date of sale was P800,000. Both companies use the straight line method of depreciation for their depreciable assets. The equipment had a 10-year life when originally purchased and an expected 10% salvage value. What amount should be included in the consolidated statement of financial position at December 31 2018 for the equipment cost and accumulated depreciation?

a. Equipment of P1,250,00D; and accumulated depreciation of P450,000

b. Equipment of P800,000; and accumulated depreciation of P552500

c. Equipment of P800000; and accumulated depreciation of P562,500

d. Equipment of P1,250,000; and accumulated depreciation of P562,500

Reference no: EM133053802

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