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The following is the straight line depreciation schedule for Ever-Peace company's furniture : Date of depreciation Calculation Depreciation expenses Accumulated Book Value Depreciation December 31,
The following is the straight line depreciation schedule for Ever-Peace company's furniture : Date of depreciation Calculation Depreciation expenses Accumulated Book Value Depreciation December 31, 2014 ($ 41,000 - $1,000) / 5 $ 8,000 $ 8,000 $ 33,000 December 31, 2015 ($ 41,000 - $1,000) / 5 $ 8,000 $ 16,000 $ 25,000 December 31, 2016 ($ 41,000 - $1,000) / 5 $ 8,000 $ 24,000 $ 17,000 December 31, 2017 ($ 41,000 - $1,000) / 5 $ 8,000 $ 32,000 $ 9,000 December 31, 2018 ($ 41,000 - $1,000) / 5 $ 8,000 $ 40,000 $ 1,000 Which of the following correctly presents Ever-peace furniture's account on the company's balance sheet at the end of 2015: Select one: 25,000 O Furniture Less: Depreciation Expenses (8,000) 17,000 O Furniture 41,000 Add: Accumulated Depreciation 16,000 55,000 17,000 O Furniture Add: Depreciation Expenses 8,000 25,000 Furniture 41,000 Less: Accumulated Depreciation (16,000) 25,000 O Furniture 41,000 Less: Accumulated Depreciation (24,000) 17,000
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