Jack's Copy Shop Bought Equipment for $240,000 on January 1

question 133

Multiple Choice

Jack's Copy Shop bought equipment for $240,000 on January 1, 2016. Jack estimated the useful life to be 3 years with no salvage value, and the straight-line method of depreciation will be used. On January 1, 2017, Jack decides that the business will use the equipment for a total of 5 years. What is the revised depreciation expense for 2017?

• A)$80,000.
• B)$32,000.
• C)$40,000.
• D)$60,000.

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Definitions:

Skeletal Muscle

A type of striated muscle tissue that is attached to bones and is involved in the movement of the skeleton and voluntary movements.

Hollow Organs

Organs within the body that have a cavity, such as the stomach, intestine, and bladder.

Smooth

Pertaining to smooth muscle, an involuntary non-striated muscle found within the walls of organs and structures such as the digestive tract, blood vessels, and urinary bladder.

Cardiac

Pertaining to the heart and its functions or diseases.