Business Combination - Intercompany

On January 1, 2018, Jude Company purchased 80% equity of Irene company. On January 3,2018 , Irene sold equipment (with original cost of P750,000 and carrying cost of P375,000) to Jude for P540,000. The equipment have a remaining life of three (3) years and was depreciated using the straight line method by both companies. In Jude consolidated balance sheet as of December 31,2018 , the cost, accumulated depreciation and book value should be reported as: Cost Accumulated Depreciation Net Book Value On January 1, 2018, Jude Company purchased 80% equity of Irene company. On January 3,2018 , Irene sold equipment (with original cost of P750,000 and carrying cost of P375,000) to Jude for P540,000. The equipment have a remaining life of three (3) years and was depreciated using the straight line method by both companies. In Jude consolidated balance sheet as of December 31,2018 , the cost, accumulated depreciation and book value should be reported as: Cost Accumulated Depreciation Net Book Value