Question
On January 1, Year 1, Event Cakes Inc. purchased a $200,000 building. The building has a salvage value of $5,000 and an estimated useful life
On January 1, Year 1, Event Cakes Inc. purchased a $200,000 building. The building has a salvage value of $5,000 and an estimated useful life of 4 years. Event Cakes Inc. uses the straight-line method to calculate the depreciation. What is the ending balance in accumulated depreciation at the end of Year 3?
$53,750
$146,250
$48,750
$200,000
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Top Accounting And Auditing Issues For 2023
Authors: CCH Tax Law Editors
1st Edition
0808059335, 978-0808059332
