Multiple Choice
On January 1,2011,Ace Electronics paid $400,000 cash for a computer that would be used to store and process its accounting information.The computer has a 5-year useful life,after which it will be worthless because it will be obsolete.Ace Electronics uses the straight-line method to depreciate its assets.The book value of the computer at December 31,2011 is ________.
A) $320,000
B) $400,000
C) $480,000
D) $80,000
Correct Answer:
Verified
Correct Answer:
Verified
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