Ursula Tax Planning Service has the following plant assets: Communications equipment: Cost, $7,120 with useful life of eight years; Furniture: Cost, $22,800 with useful life of 12 years; and Computer: Cost, $12,000 with useful life of four years
(Assume residual value of all the assets is zero.) Ursula's monthly depreciation expense calculated using the straight-line method is ________. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $250
B) $158
C) $74
D) $482
D .Straight-line depreciation = (Cost - Residual value) / Useful life
Straight-line depreciation for:
Communications
You might also like to view...
Which of the following is NOT one of the major credit reporting agency?
a. Experian b. Equifax c. TransUnion d. ProQuest
The failure of a client to include a statement of cash flows will result in the issuance of a disclaimer of opinion by the auditor
a. True b. False Indicate whether the statement is true or false
Which of the following is a type of mechanical transition?
A. repeating key words B. a smooth line of thought C. using jargon D. using clichés
Which of the following costs is an example of a cost that remains the same in total as the number of units produced changes?
A) Direct labor B) Salary of a factory supervisor C) Units of production depreciation on factory equipment D) Direct materials