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On Oct 1 2021 Metro Company Purchased Equipment in Exchange

Question 150

Multiple Choice

On Oct 1 2021 Metro Company purchased equipment in exchange for a $77000 note payable.The equipment has an estimated salvage value of $17000 an estimated life of 4 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 Oct 1 2021 Metro Company purchased equipment in exchange for a $77000 note payable.The equipment has an estimated salvage value of $17000 an estimated life of 4 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) $56250. B) $58250. C) $31250. D) $27000.


A) $56250.
B) $58250.
C) $31250.
D) $27000.

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