Solved

A Company Purchased Factory Equipment on June 1, 2010, for $48,000

Question 291

Multiple Choice

A company purchased factory equipment on June 1, 2010, for $48,000. It is estimated that the equipment will have a $3,000 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2010, is


A) $4,500.
B) $2,625.
C) $2,250.
D) $1,875.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions