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University Of California, Los Angeles Operations And Supply Chain Management Assignment Help - Clemente Co.

Question - Clemente Co. owned all of the voting common stock of Snider Co. On January 2, 2011, Clemente
sold some equipment to Snider for $125,000. The equipment had a cost of $140,000. At the time of
the sale, the balance in accumulated depreciation was $40,000. The equipment had a remaining
useful life of five years and a $0 salvage value. Straight-line depreciation is used by both Clement and
Snider. At what amount should the equipment (net of any depreciation) be included on the
consolidated balance sheet dated 12/31/2011?
A. $100,000
B. $95,000
C. $85,000
D. $80,000
E. $75,000

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