Fleet Services Company Purchased Equipment for $12,000 on January 1

Multiple Choice

Fleet Services Company purchased equipment for $12,000 on January 1, 2022.The company expects to use the equipment for 5 years.It has no salvage value.What balance would be reported on the December 31, 2022 balance sheet for Accumulated Depreciation?

A) $0 because Accumulated Depreciation is reported on the Income Statement.
B) $2,400
C) $9,600
D) $12,000