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What consolidated depreciation expense would be

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Problem 1: 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, consolidated depreciation expense for 2015 would be

A) $5,000 too high.
B) $5,000 too low.
C) $1,000 too low.
D) $1,000 too high.

Reference no: EM132941735

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