Multiple Choice
A company purchased factory equipment on May 1, 2018 for $30,000. It is estimated that the equipment will have a $4,200 residual value at the end of its 8-year useful life. Using straight-line depreciation, the depreciation expense for the years ended December 31, 2018 and 2019 is
A) $2,500 in 2018 and $3,750 in 2019.
B) $3,225 in 2018 and $3,225 in 2019.
C) $2,150 in 2018 and $3,225 in 2019.
D) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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