A Company Purchased New Furniture at a Cost of $16,000

question 131

Multiple Choice

A company purchased new furniture at a cost of $16,000 on January 1.The furniture is estimated to have a useful life of 6 years and a $1,000 salvage value.The company uses the straight-line method of depreciation.What is the book value of the furniture on December 31 of the first year?

• A)$16,000
• B)$15,000
• C)$2,500
• D)$13,500
• E)$13,333

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Definitions:

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A horizontal row in a ladder logic diagram, which represents a logical operation performed in a PLC program.

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The founder of Islam, regarded by Muslims as the last messenger and prophet of God, who lived in the 6th and 7th centuries CE in Arabia.

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