A company purchased a machine for $100,000 on October 1, 2021. The estimated service life is 10 years with a $10,000 residual value. The company records partial-year depreciation based on the number of months in service. Depreciation expense for the year ended December 31, 2021, using straight-line depreciation, is:
A. $7,500.
B. $1,500.
C. $2,250.
D. $2,500.
Answer: C
You might also like to view...
With which step does the progressive discipline process end?
A. a written warning and a threat of temporary suspension B. an official written warning C. termination D. an unofficial spoken warning E. temporary suspension and a written notice
Empathy and kindness are the primary bridges between buyer and seller.
Answer the following statement true (T) or false (F)
The Everest Company has income from operations of $80,000, invested assets of $500,000, and sales of $1,030,000. What is the investment turnover?
A) 6.25 B) 2.06 C) .49 D) 12.88
What major contribution did Mary Parker Follett bring from her study of community based action to the analysis of organizations?
What will be an ideal response?