On January 1, 2010, Pinnacle Purchased an Asset That Had

question 88

Multiple Choice

On January 1, 2010, Pinnacle purchased an asset that had an estimated residual value of $700 after an economic life of four years.Pinnacle used sum-of-the-years'-digits depreciation and recorded $1, 560 of depreciation expense in 2012.What was the cost of the asset?

• A)$5, 900
• B)$7, 100
• C)$4, 500
• D)$8, 500

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Definitions:

Guard

To protect or watch over someone or something in order to prevent harm or ensure safety.

Cognitive-behavioral

A therapeutic approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic process.

Rational-emotive

A form of psychotherapy focusing on identifying and changing irrational beliefs that cause emotional and behavioral issues.

Self-help

The act or practice of trying to improve oneself without the direct aid of others, often through the acquisition of knowledge.