Belton Corporation Uses Straight-Line Depreciation And,for Assets Acquired During the Fiscal

Multiple Choice

Belton Corporation uses straight-line depreciation and,for assets acquired during the fiscal year,follows the policy of recording a full month's depreciation for all assets acquired on or before the 15^th of the month.No depreciation is recorded for the month if an asset is acquired after the 15^th.On May 22,20A,Belton purchased a car that cost $22,000 which had an estimated residual value of $2,000 and an estimated useful life of five years.To the nearest dollar,what is the amount of depreciation that should be recorded on the car for 20A?

A) $2,000
B) $2,333
C) $2,667
D) $4,000