Question
On January 1, 2014, Wasson Company purchased a delivery vehicle costing $61,000. The vehicle has an estimated 8-year life and a $5,000 residual value. What
On January 1, 2014, Wasson Company purchased a delivery vehicle costing $61,000. The vehicle has an estimated 8-year life and a $5,000 residual value. What is the vehicle's book value as of December 31, 2015, assuming Wasson uses the straight-line depreciation method?
| $47,000. | |
| $49,000. | |
| $14,000. | |
| $42,000. |
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Sm Auditing Integrated Appr Review Copy
Authors: ARENS LO, EBBECKE
7th Edition
0135914396, 978-0135914397
