On January 4, 2012, Mary's Cafe acquired equipment for $200,000. The estimated life of the equipment is 8 years or 60,000 hours. The estimated residual value is $10,000. What is the balance in the Accumulated Depreciation account at December 31, 2013 if the straight-line method is used?
A: $10,000
B: $25,000
C: $47,500
D: $50,000
A: $10,000
B: $25,000
C: $47,500
D: $50,000
举一反三
- R company sold old equipment for $25 000. The equipment had a cost of $50 000 and accumulated depreciation of $30 000. The entry to record the sale of the equipment would include a ( ). A: loss on disposal of $25 000 B: gain on disposal of $25 000 C: loss on disposal of $5 000 D: gain on disposal of $5 000
- On<br/>January 1, 2014, Portwell Company purchased a equipment for $210,000.<br/>They estimate a useful life of 4 years, residual value is $10,000. <br/>At the end of 2014, the balance in the equipment account will be:( <br/>) A: $200,000 B: $210,000 C: $150,000 D: $160,000
- Oliver Ltd purchased a piece of equipment for $20 000. It paid GST of $2000, shipping charges of $500, and insurance during transit of $200. Installation and testing of the new equipment cost $1000. The total to be debited to the Equipment account is: A: $22 000 B: $22 700 C: $23 000 D: $23 700
- An<br/>asset purchased on January 1, 2001 for $60,000 and has an estimated<br/>life of 10 years will have a book value of the assets on December 31,<br/>2004: () A: $60,000. B: $24,000. C: $36,000. D: $42,000.
- 中国大学MOOC: A company purchased an equipment by paying $26, 000 cash. When this transaction is recorded, the cash account is debited for $26, 000.