The following information is available on a depreciable asset owned by Mutual Savings Bank: Purchase dateJuly 1, Year 1Purchase price$82,600?Salvage value$11,400?Useful life8 yearsDepreciation methodstraight-lineThe asset's book value is $64,800 on July 1, Year 3. On that date, management determines that the asset's salvage value should be $6400 rather than the original estimate of $11,400. Based on this information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would be:
A. $1958.33
B. $2433.33
C. $4866.67
D. $2700.00
E. $2366.37
Answer: C
You might also like to view...
Computer mapping is a product of Geographic Information Systems (GIS)
Indicate whether the statement is true or false
Marketing research is the systematic design, collection, analysis, and reporting of data directly relevant to a specific marketing situation facing an organization
Indicate whether the statement is true or false
Which of the following is an important reason we should care about work-related attitudes?
A. Helps to understand people’s reactions to their work and leaders. B. To realize we are unable to change attitudes. C. They are not related to behaviors that organizations care about. D. They do not contribute to well-being and life satisfaction.
Which of the following is true of functional turnover?
A. It occurs when a large number of newly hired employees fail to produce positive result. B. It occurs when low-level employees are terminated due to unethical practices. C. It occurs when high-level employees are dismissed due to unethical practices. D. It occurs when an organization loses employees who have little or no value to the organization.