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What is the amount of the acquisition date worksheet

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Question - Rope Corporation purchased 70 percent of Skip Enterprises. At the acquisition date, Skip's plant assets have an historical cost of P450,000 and an accumulated depreciation of P260,000. The appraised value of Skip's plant assets is P600,000. What is the amount of the acquisition date worksheet elimination to accumulated depreciation (indicate debit or credit)?

A. 50, 000 DEBIT

B. 56, 000 DEBIT

C. 150, 000 DEBIT

D. 260, 000 DEBIT

E. ANSWER NOT PROVIDED

Reference no: EM132799902

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