Compatibility Services acquired an $80,000 machine on January 1, 20X3. The machine is estimated to have a useful life of 8 years, and a residual value of $4,000. For units-of-production depreciation purposes, the machine is expected to produce 400,000 units. If Compatibility Services uses straight-line depreciation, what is the depreciation expense in 20X4?
A) $4,000
B) $ 9,500
C) $80,000
D) $8,000
Answer: B) $ 9,500
You might also like to view...
Franklin & Marshall College wishes to contact high school seniors at independent schools in Pennsylvania. Which of the following media would be most effective and efficient?
A) a Facebook page for the college B) local newspapers ads throughout the state C) radio ads throughout the state D) a direct mail piece sent to selected students E) billboards throughout the state
Return on assets is a ratio based on a retailer's net sales, net assets, and financial leverage
Indicate whether the statement is true or false
In the case of a deferred expense, the adjusting entry required at the end of a period will consist of a credit to the Prepaid Expense account. Assume the deferred expense was initially recorded as an asset
Indicate whether the statement is true or false
Which of the following is/are involved in international business?
a. McDonald’s b. a local clothing department store c. Wal-Mart d. two of the above e. all of the above