Multiple Choice
A company purchased a computer system on March 1.Its cost was $35,000 and it had an estimated salvage value of $5,000.It was expected to have a useful life of four years.To the nearest dollar,the depreciation for year 2 using straight-line depreciation will be:
A) $8,750.
B) $7,500.
C) $6,250.
D) $5,625.
Correct Answer:
Verified
Correct Answer:
Verified
Q13: Subtracting accumulated depletion from the asset account
Q39: Realized gains and losses only occur when
Q56: Depreciation is a process of valuation of
Q69: The first step in recording a disposal
Q96: Interest and dividends earned during the period
Q115: Securities that are actively managed in order
Q132: Charmed Inc. has net income of $50,000,
Q138: Costs of testing machinery or equipment before
Q150: Charbucks has net income of $50,000, sales
Q167: The Indianapolis Colts and Seattle Seahawks are