Multiple Choice
On January 1,2018,Busy Beaver,Inc.signed a $315,000,5 year note payable to buy a new industrial veneer cutter.Busy Beaver plans to use the machine for 10 years and then sell it for its scrap value of $5,000.Using straight-line depreciation,depreciation expense for the year ended December 31,2018 equals:
A) $31,000.
B) $31,500.
C) $284,000.
D) $283,500.
Correct Answer:
Verified
Correct Answer:
Verified
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