Question
ABC Company purchased equipment on January 1, 2016 for $30,000 with a salvage value of $3,000...
ABC Company purchased equipment on January 1, 2016 for $30,000 with a salvage value of $3,000 and 5 years useful life. The company decided to retire the equipment on October 1, 2020.
Compute the amount of:
Annual Depreciation Expense: *
a-$4,050
b-$4,350
c-$5,400
d-$21,600
Depreciation Expense of the Year 2017: *
a-$1,350
b-$2,700
c-$4,050
d-$5,400
Depreciation Expense of the Year 2020: *
a-$1,350
b-$2,700
c-$4,050
d-$5,400
Accumulated Depreciation at disposal date: *
a-$21,600
b-$22,950
c-$24,300
d-$25,650
Book Value at disposal date: *
a-$7,050
b-$5,700
c-$4,350
d-Zero
Loss on Disposal: *
a-$7,050
b-$5,700
c-$4,350
d-Zero
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