Multiple Choice
A truck that cost $8,000 was originally being depreciated over four years using the straight-line method with no salvage value. If after one year, it was decided that the truck would last an additional four years (or a total of five years) , the second year's depreciation would be
A) $2,000.
B) $1,000.
C) $1,500.
D) $2,500.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Which of the following assets generally is
Q4: The Bucol Company purchased a tooling machine
Q5: The John Company purchased a machine on
Q6: WM is a waste disposal company. Explain
Q8: On January 1, 2007, Barry Company purchased
Q9: Bellows Bottling purchased for $800,000 a trademark
Q11: Which of the following principles best describes
Q11: The sum-of-the-years'-digits method of depreciation is being
Q12: In 2010, Newman Company paid $1,000,000 to
Q38: In accordance with generally accepted accounting principles,which