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Keith_Richards [23]
3 years ago
13

On June 1, Aaron Company purchased equipment at a cost of $120,000 that has a depreciable cost of $90,000 and an estimated usefu

l life of 3 years and 30,000 hours, which ends on December 31. Using straight-line depreciation, calculate depreciation expense for the final (partial) year of service.(A) 40,000 (B) 17,500 (C) 30,000 (D) 12,500
Business
1 answer:
Alex_Xolod [135]3 years ago
7 0

Answer:

It is $30,000(C)

Explanation:

Depreciable cost = $90,000

Using straight-line method,

Annual depreciation = $90,000/3

                                  = $30,000.

Hence, depreciation expense at the final year of service is $30,000

We cannot make use of entire cost of equipment of $120,000 because it seemed the company wanted to sell its scrap value for  $30,000. Hence, this has been used to reduced it cost to $90,000 which is a depreciable cost .

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Answer:

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6 0
3 years ago
A company was the victim of several frauds that totaled approximately $10 million in one year. With a profit margin of 10 percen
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