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Luke Co. has several assets that it depreciates using one accumulated depreciation account. During 2020, Luke Co. sold one asset and provided the following information:
Luke Co. has several assets that it depreciates using one accumulated depreciation account. During 2020, Luke Co. sold one asset and provided the following information:
Item | Amount |
---|---|
Beginning balance accumulated depreciation | $638,000 |
Ending balance accumulated depreciation | $910,000 |
Accumulated depreciation of sold asset | $68,000 |
How much was depreciation expense for 2020?
$272,000
$68,000
$340,000
$204,000
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