Question
Aggie Company purchased equipment on January 1, 2021. The following information is available concerning the purchase: Invoice price Shipping charges $12,000 $950 Installation costs
Aggie Company purchased equipment on January 1, 2021. The following information is available concerning the purchase: Invoice price Shipping charges $12,000 $950 Installation costs $300 Trial run material $100 Purchase terms 3/10, net 30 Trial run labor $200 Payment date January 8, 2021 Insurance for first year $400 The equipment is being depreciated using the straight-line method over a 10-year life with a salvage value of $1,000. Depreciation expense for 2021 would be what amount? $1,219 $1,259 $1,319 $1,124 $1,289
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