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Compute for the consolidated equipment-net

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Reference no: EM133010742

LALISA Corporation sells equipment with a book value of P160,000 to MANDU Company, its 75% owned subsidiary for P128,000 on April 1, 2019. MANDU determines that the remaining useful life of the equipment is four years and that the double declining balance of depreciation is appropriate. The December 31, 2019 separate financial statements of LALISA and MANDU show equipment - net of P800,000 and P480,000, respectively.

REQUIREMENT:

Problem 1: Compute for the consolidated equipment-net.

Reference no: EM133010742

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