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What the net impact on the plants accumulated depreciation

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Question - White Ltd is the parent of Black Ltd. On 1 January 20X3 White sold a plant to Black for $120,000. The plant had cost White $100,000 on 1 January 20X1 and had been depreciated 10% per annum straight line with no scrap value. Black recalculated the depreciation for the remaining useful life and based the calculation on the transfer sale price. Both companies use the cost model. What the net impact on the plant's accumulated depreciation account for 31 December 20X4 consolidation?

A. None of the given answers is correct.

B. Cr Accumulated depreciation 10,000

C. Dr Accumulated depreciation 20,000

D. Cr Accumulated depreciation 25,000

Reference no: EM133074378

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