Hardwick Company purchased a truck that cost $53,000. The company expected to drive the truck 200,000 miles over its 5-year useful life, and the truck had an estimated salvage value of $3,000. If the truck is driven 30,000 miles in the current accounting period, what would be the amount of depreciation expense for the year?
A. $12,000
B. $10,000
C. $10,600
D. $7,500
Answer: D
Business
You might also like to view...
Which of the following is more concerned with how a particular product category is selling rather than a particular brand?
A) manufacturer B) salesperson C) retailer D) jobber
Business
Compute the present value of an ordinary annuity that pays $13,000 per year for 15 years at 10%.
A) $98,878
B) $99,745
C) $97,578
D) $100,178
Business
The most commonly recognized source of leadership involves influence that leaders exercise over their followers is representative of which form of leadership?
a. Externally oriented b. Participative c. Self-leadership d. Shared leadership
Business
The bankruptcy of an agent automatically terminates an agency relationship
a. True b. False Indicate whether the statement is true or false
Business