4- 34 Test Bank for Accounting Principles, Ninth Edition The following items are taken from the financial statements of Dinkel Company for the year ending December 31, 2010: Accounts payable $ 18,000 Accounts receivable 11,000 Accumulated depreciation - equipment 28,000 Advertising expense 21,000 Cash 15,000 Dinkel, Capital (1/1/10) 102,000 Dinkel, Drawing 14,000 Depreciation expense 12,000 Equipment Insurance expense 3,000 Note payable, due 6/30/11 70,000 20,000 Patents 6,000 Prepaid insurance (12-month policy) 17,000 Rent expense 32,000 Salaries expense 133,000 Service revenue 4,000 Supplies 6,000 Supplies expense >190,000 What is the book value of the equipment at December 31, 2010? a. $218,000 b. $190,000 c. $162,000 d. $150,000 are And Mic, AICPA BB: Legal/Regulatory, AICPA FN: Reporting, AICPA PC: Problem Solving