Multiple Choice
Cardco Inc.has an annual accounting period which ends on December 31.During the current year a depreciable asset which cost $42,000 was purchased on September 2.The asset has a $4,000 estimated salvage value.The company uses straight-line depreciation and expects the asset to have a 5 year life.What is the total depreciation expense for the current year?
A) $1,900.00
B) $7,600.00
C) $2,533.33
D) $2,800.00
E) $3,166.67
Correct Answer:
Verified
Correct Answer:
Verified
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