Question
JKL Corp purchased equipment for $210,000 on 4/1/1 9 . The equipment had an estimated useful life of 3 years and an estimated salvage value
JKL Corp purchased equipment for $210,000 on 4/1/19. The equipment had an estimated useful life of 3 years and an estimated salvage value of $10,000. JKL uses the sum of the years digits (SYD) depreciation method. What is the balance in accumulated depreciation on 12/31/20? (Do not round off percentages/decimals).
a) $66,667 b) $166,667 c) $75,000 d) $150,000
JKL Corp purchased equipment for $210,000 on 4/1/19. The equipment had an estimated useful life of 3 years and an estimated salvage value of $10,000. JKL uses the sum of the years digits (SYD) depreciation method. What is the balance in accumulated depreciation on 12/31/20? (Do not round off percentages/decimals).
a) $66,667 b) $166,667 c) $75,000 d) $150,000
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Auditing
Authors: Alan Millichamp, John Taylor
11th Edition
1473749301, 978-1473749306
