Question
On January 1, Ringwood Co. purchased a forklift for $32,200 cash. Ringwood Co. paid freight charges of $750 to the trucking company to deliver the
On January 1, Ringwood Co. purchased a forklift for $32,200 cash. Ringwood Co. paid freight charges of $750 to the trucking company to deliver the forklift to its warehouse. The estimated salvage value and useful life of the forklift are $2,900 and 5 years, respectively. Under the straight-line method, what is the book value of the equipment as of December 31, Year 3?
| A. | $12,430 | |
| B. | $21,510 | |
| C. | $14,920 | |
| D. | $17,580 |
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Audit Management And Supervision Wiley Ronald Institute Of Internal Auditors Professional Book Series
Authors: Gil W. Courtemanch, Guilbert W. Courtemanche
1st Edition
0471625655, 978-0471625650
