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What sudbury recorded depreciation expense on equipment

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Problem 1: Chelsea, Inc., owns 100% of Sudbury, Inc. On January 1. Chelsea sold Sudbury delivery equipment at a gain. Chelsea had owned the equipment for 2 years and used a 5-year straight-line depreciation rate with no residual value. Sudbury is using a 3-year straight-line depreciation rate with no residual value for the equipment. In the consolidated income statement, Sudbury's recorded depreciation expense on the equipment for the year will be decreased by

A) 20% of the gain on sale.
B) 33 1/3 of the gain on sale.
C) 50% of the gain on sale.
D) 100% of the gain on sale.

Reference no: EM132841115

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