Use the Following Information for Questions

question 80

Multiple Choice

Use the following information for questions:
On January 1, 2011, Mary Co.purchased some equipment that cost $52,800.Freight costs were $300, sales taxes were $6,400, and installation $500.Estimated residual value is $2,000.The company uses a straight-line rate of 10%.
-Accumulated amortization at the end of 2013 would be:

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

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Definitions:

Commodities

Basic goods used in commerce that are interchangeable with other goods of the same type.

Confederation

An organization that consists of a number of parties or groups united in an alliance or league, often referring to a union of states with limited central power.

Sovereign Authority

The ultimate power or authority within a given territory, typically held by a state or monarch, over which no other power can exercise control.

Central Body

The main or primary governing agency or organization within a larger system that coordinates and regulates activities across the system.