Question
Cutter Enterprises purchased equipment for $78,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $4,800.
Cutter Enterprises purchased equipment for $78,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $4,800. Using the straight-line method, depreciation for 2021 would be:
Multiple Choice
None of the other answer choices are correct.
$78,000.
$15,600.
$14,640.
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Fundamentals Of Oil And Gas Accounting
Authors: Rebecca A. Gallun, Ph.D. Wright, Charlotte J, Linda M. Nichols, John W. Stevenson
4th Edition
0878147934, 9780878147939
