Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

9.22: What is the purchase price of an asset if it is depreciated using the straight-line method and annual depreciation is $24,000 per year for

9.22:

What is the purchase price of an asset if it is depreciated using the straight-line method and annual depreciation is $24,000 per year for six years with an estimated salvage value of $3,000?

A : $147,000

B : $162,000

C : $141,000

D : $144,000

I did it32 ways:

1. $24,000+3,000=27000 x 6= $162,000

2. $24,000 x 6= 144,000

3. $24,000 x 6=144,000-3,000=$141,000

Which one is it?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost management a strategic approach

Authors: Edward J. Blocher, David E. Stout, Gary Cokins

5th edition

73526940, 978-0073526942

Students also viewed these Accounting questions

Question

obtain the Transitive Clausure TC of the relation R=C 10 10

Answered: 1 week ago