On January 1, 2011, Carson Company Purchased Equipment at a Cost

question 58

Multiple Choice

On January 1, 2011, Carson Company purchased equipment at a cost of $570,000. The equipment was estimated to have a useful life of five years and a salvage value of $60,000. Carson uses the sum-of-the-years'-digits method of depreciation. What should the accumulated depreciation be at December 31, 2013?

• A) $340,000
• B) $408,000
• C) $456,000
• D) $510,000

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Definitions:

Polyadenylation

That part of eukaryotic mRNA processing in which multiple adenine-containing nucleotides (a poly-A tail) are added to the 3' end of the molecule.

Prokaryotic mRNA

Messenger RNA found in prokaryotic organisms that is used to carry genetic information from DNA for protein synthesis.

Posttranscriptional Regulation

The control of gene expression at the RNA level, occurring after transcription but before translation.

Inducible Genes

Genes whose expression is increased or initiated in response to specific stimuli or environmental conditions.