Multiple Choice
[The following information applies to the questions displayed below.]
On April 30,2017,Tilton Products purchased machinery for $88,000.The useful life of this machinery is estimated at 8 years,with an $8,000 residual value.
-Assume that in its financial statements,Tilton Products uses straight-line depreciation and rounds depreciation for fractional years to the nearest month.Depreciation expense recognized on this machinery in 2017 and 2018 will be:
A) $2,333 in 2017 and $7,000 in 2018.
B) $5,833 in 2017 and $10,000 in 2018.
C) $6,667 in 2017 and $10,000 in 2018.
D) $10,000 in 2017 and $10,000 in 2018.
Correct Answer:

Verified
Correct Answer:
Verified
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