Question
Company B purchased equipment for 120,000 on 1/1/2022. The equipment has a useful life of 5 years and a residual value of 10,000. Using the
Company B purchased equipment for 120,000 on 1/1/2022. The equipment has a useful life of 5 years and a residual value of 10,000. Using the straight-line method of depreciation, what is the amount of depreciation expense for 2022?
A. 100,000
B. 22,000
C. 20,000
D. 10,000
E. None of the above
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Accounting The Basis For Business Decisions
Authors: Robert F. Meigs, Mary A. Meigs, Mark Bettner, Ray Whittington
10th Edition
0070433607, 978-0070433601
