Question
Cutter Enterprises purchased equipment for $72,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,000.
Cutter Enterprises purchased equipment for $72,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,000. Using the straight-line method, depreciation for 2021 would be:
Multiple Choice
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$13,200.
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$14,400.
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$72,000.
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None of the other answer choices are correct
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Introductory Accounting Finance And Auditing For Lawyers
Authors: Lawrence Cunningham
7th Edition
1634604105, 9781634604109
