Multiple Choice
Blanton Company bought equipment on January 1, 2012, with a cost of $160,000, an estimated residual value of $40,000, and an estimated life of 15 years was depreciated by the straight-line method for 4 years.Due to obsolescence, it was determined at the beginning of 2016 that the useful life should be shortened by 3 years and the residual value changed to zero.What is the accumulated depreciation at the end of 2015?
A) $42,667
B) $32,000
C) $40,000
D) $8,000
Correct Answer:
Verified
Correct Answer:
Verified
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