On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. The truck was expected to have a four year useful life and an $8,000 salvage value. If Marino uses the straight-line method, which of the following shows how the adjusting entry to recognize depreciation expense at the end of Year 3 will affect the Company's financial statements? A. B. C. D. Cash + Truck NA + + NA Multiple Choice O O + O + Assets Option A Option B Option C Option D - -> -> Balance sheet = = Acc. Dep. 30,000 = 30,000 10,000 10,000 = = = Liab. + NA + NA + + + Income Statement Exp. - 30,000 = - 10,000 = Equity Rev. 30,000 10,000 10,000 - 10,000 = (10,000) - 10,000 = - Net Inc. (30,000) (10,000) (10,000) (10,000) Cash Flow Statement (10,000) OA

On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. The truck was expected to have a four year useful life and an $8,000 salvage value If Marino uses the straight -ine methor, which of the following shows how the adjusting entry to recognize depreciation expense at the end of 'Veat 3 will affect the Companys financial statements? Multiple Choice Option A Option 8 Option C Option D