Suppose that on June 3 Freddys auto service inc, purchased equipment on account for $24,000. Freddys quipment will remain useful for five years and then be worthless. Freddy uses the straight line method of depreciation. Freddys auto service inc reported book value of its land and equipment at June 30 is as follows:

Complete the table to calculate the book value of the equipment.

uipment on account for $24,000. Freddy's equipment will remain useful for five years and then be w uipment at June 30 is as follows: Data Table Freddy's Auto Service, Inc. Plant Assets at June 30 18,000 Land Equipment Less: Accumulated Depreciation 24,000 (400) 23,600 41,600 Book value of plant assets Print Done