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On January 1, Year 2, Ballard Company spent $21,000 on an asset to improve its quality. The asset had been purchased on January 1, Year
On January 1, Year 2, Ballard Company spent $21,000 on an asset to improve its quality. The asset had been purchased on January 1, Year 1, for $56,000. The asset had a $14,000 salvage value and a 6-year life. Ballard uses straight-line depreciation. What would be the book value of the asset on January 1, Year 5?
$36,400
$11,200
$22,400
$21,000
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