Solved

Viva Inc Had Bought Machine X for $15,500 Two Years Ago

Question 89

Multiple Choice

Viva Inc. had bought machine X for $15,500 two years ago. The machine had no residual value and had an estimated useful life of 10 years. If the company uses the straight line depreciation method, calculate the current book value of the machine.


A) $12,400
B) $3,100
C) $18,600
D) $15,500

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q84: Luminous Electrical Repair performed services costing $8,000

Q85: The accountant for Sparks Electric Company failed

Q86: The employees of Robert Rogers, CPA, worked

Q88: The assumption that the financial statements of

Q90: Ursula Tax Planning Service has the following

Q91: On March 1, 2014, Nuggets Inc. paid

Q92: Luminous Electrical Repair performed services costing $8,000

Q93: In the case of a prepaid expense,

Q112: The Accumulated Depreciation account is _.<br>A)a record

Q185: Under cash basis accounting,an expense is recorded