A Company Purchased Factory Equipment on June 1, 2017, for $128,000

question 158

Multiple Choice

A company purchased factory equipment on June 1, 2017, for $128,000. It is estimated that the equipment will have a $8,000 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2017, is

• A)$12,000.
• B)$7,000.
• C)$6,000.
• D)$5,000.

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