Use the Following Information for Questions Below

question 64

Multiple Choice

Use the following information for questions below
On July 1,2019,Bronson Co.purchased some equipment that initially cost $52,800.Additional costs included freight costs $300,non-refundable taxes $6,400,and installation $500.Estimated residual value is $2,000.The company uses a straight-line rate of 10%.Bronson's fiscal year end is June 30.
-Accumulated depreciation at the fiscal year end of 2022 is

• A)$17,400.
• B)$17,700.
• C)$17,790.
• D)$18,390.

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Definitions:

Agency Costs

The costs associated with resolving conflicts of interest between company management and shareholders.

Sole Proprietorship

A business owned by a single individual.

CSR Activity

Corporate social responsibility activities involve companies taking responsibility for their impact on society and the environment, often beyond what is legally required.

Corporate Performance

An assessment of how effectively a company is achieving its goals, measured through financials, productivity, and market position.