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On Nov 2 2020 MG Company Purchased Equipment with $50000

Question 162

Multiple Choice

On Nov 2 2020 MG Company purchased equipment with $50000 cash.The equipment has an estimated salvage value of $8000 an estimated life of 7 years and is depreciated by the straight-line method.Use the following tabular analysis to determine the book value of the equipment at December 31 2022. On Nov 2 2020 MG Company purchased equipment with $50000 cash.The equipment has an estimated salvage value of $8000 an estimated life of 7 years and is depreciated by the straight-line method.Use the following tabular analysis to determine the book value of the equipment at December 31 2022. A) $50000. B) $43000. C) $37000. D) $32000.


A) $50000.
B) $43000.
C) $37000.
D) $32000.

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