The Asset Section of the January 1, 20X9, Balance Sheet

question 11

Multiple Choice

The asset section of the January 1, 20X9, balance sheet of Big Valley Company includes a machine which was acquired on January 1, 20X5.The machine's original cost was $500,000, and the estimated life was determined to be 10 years.The estimated residual value was zero, and the straight-line method of depreciation was chosen.The book value of the machine as of January 1, 20X9, is _____.

• A)$500,000
• B)$450,000
• C)$250,000
• D)$300,000

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