43.)

On January 1, 2014, Wasson Company purchased a delivery vehicle costing $46,600. The vehicle has an estimated 8-year life and a $3,400 residual value. What is the vehicle's book value as of December 31, 2015, assuming Wasson uses the straight-line depreciation method?

$35,800.

$32,400.

$10,800.

$37,800.

44.)

Carter Company disposed of an asset at the end of the eighth year of its estimated life for $11,500 cash. The asset's life was originally estimated to be 10 years. The original cost was $53,300 with an estimated residual value of $5,300. The asset was being depreciated using the straight-line method. What was the gain or loss on the disposal?

$3,400 loss.

$1,900 loss.

$6,700 gain.

$11,500 gain.

45.)

Amanda Company purchased a computer that cost $12,000. It had an estimated useful life of three years and a residual value of $2,000. The computer was depreciated by the straight-line method and was sold at the end of the third year of use for $5,920 cash. Which of the following statements correctly describes the computer sale?

Assets and stockholders