Cooper Ltd

question 3

Multiple Choice

Cooper Ltd.acquired 70% of the common shares of Effy Ltd.at January 2,20X1.At December 31,20X3,Effy sold a machine to Cooper for $180,000.Effy had purchased the machine a few years ago for $250,000.At the time of sale to Cooper,the machine had a carrying value of $150,000 and a remaining useful life of 6 years.Both companies do not claim amortization for assets purchased in the second half of the year.For Cooper's December 31,20X3 consolidated financial statements,what net book value should be shown for the machine?

• A)$125,000
• B)$150,000
• C)$180,000
• D)$250,000

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