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A company purchased new furniture at a cost of $14,000 on September 30. The furniture is estimated to have a useful life of 8 years
- A company purchased new furniture at a cost of $14,000 on September 30. The furniture is estimated to have a useful life of 8 years and a salvage value of $2,000. The company uses the straight-line method of depreciation. What is the book value of the furniture on December 31 of the first year?
- A.$12,250.00
- B.$13,500.00
- C.$13,625.00
- D.$12,500.00
- E.$13,562.50
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Financial Accounting Information for Decisions
Authors: John Wild
7th edition
78025893, 978-0078025891
