Mitchell Corporation Bought Equipment on January 1, 2017

question 219

Multiple Choice

Mitchell Corporation bought equipment on January 1, 2017. The equipment cost $300,000 and had an expected salvage value of $50,000. The life of the equipment was estimated to be 6 years. The depreciable cost of the equipment is

• A)$300,000.
• B)$250,000.
• C)$50,000.
• D)$41,667.

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Definitions:

Death Rates

A rate indicating the frequency of deaths among a distinct cohort, normalized to its population size, during a specific timeframe.

Demographic Transition

A model that describes the transformation of a country's population structure, typically from high birth and death rates to low birth and death rates, as part of economic development.

Birthrates

A statistical figure that represents the number of births per 1,000 people in a population over a specific period of time.

Death Rates

A statistical figure showing the number of deaths per year, often per 1,000 individuals, in a particular population.