Hoffman, Incorporated adjusts its books each month but closes its books at the end of the year. The companys unadjusted trial balance at March 31 is as follows:

	Debit	Credit
Cash	$ 11,060
Accounts Receivable	9,760
Supplies	1,440
Prepaid Insurance	2,960
Equipment	24,600
Accumulated Depreciation: Equipment		$ 9,840
Unearned Service Revenue		7,200
Capital Stock		5,900
Retained Earnings		24,100
Dividends	1,700
Service Revenue Earned		15,510
Salaries Expense	8,500
Utilities Expense	530
Rent Expense	2,000
Totals	$ 62,550	$ 62,550

The equipment had an estimated useful life of five years. Compute the book value of the equipment at March 31, after the proper March adjustment is recorded.

Multiple Choice

• $14,350

• $24,190

• $10,250

• $9,840