Manhattan Park Adjusts Its Books Each Month and Closes Its

Multiple Choice

Manhattan Park adjusts its books each month and closes its books on December 31 each year. The trial balance at January 31, of the current year, before adjustments, follows:

-Refer to the above data. The equipment has an original estimated useful life of six years. Compute the book value of the equipment at January 31 after the proper January adjustment is recorded:

A) $1,000.
B) $71,000.
C) $53,000.
D) $60,000.