Sara's Designs purchased equipment at the beginning of 2015 for $11,000 . Sara decided to depreciate the equipment over a 5-year period using the straight-line method. Sara estimated the equipment's residual value at $1,000 . The estimated fair market value at the end of 2015 was $10,000 . Which of the following statements is correct concerning Sara's financial statements at December 31, 2015?
a. The book value of the equipment is $7,200.
b. The book value of the equipment is $9,000.
c. The total accumulated depreciation is $2,200.
d. The equipment will be reported on the balance sheet at it fair market value of $10,000.
b
You might also like to view...
A manufacturer's flow shop utilizes line or continuous flow processes
Indicate whether the statement is true or false
Most administrative actions are resolved through negotiated settlements at their initial stages, without formal adjudication.?
Indicate whether the statement is true or false
The variable selection procedure that identifies the best regression model, given a specified number of independent variables, is a. stepwise regression
b. forward selection. c. backward elimination. d. best-subsets regression.
The number of subordinates a supervisor is able to supervise effectively is referred to as
A. Control ratio. B. Unity of command. C. Chain of command. D. Span of control.