The Balance in Accumulated Depreciation on January 1 and December

question 25

Multiple Choice

The balance in accumulated depreciation on January 1 and December 31 is $12,000 and $9,000, respectively, during a year in which an asset with a cost of $4,000 and net book value of $0 was retired. Depreciation expense for the current year is:

• A)$9,000.
• B)$3,000.
• C)$1,000.
• D)$7,000.

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