On July 1, 2014, Puppy Corp

question 68

Multiple Choice

On July 1, 2014, Puppy Corp.purchased a machine for $500,000.The machine was estimated to have a useful life of ten years with an estimated residual value of $28,000.During 2017, it became apparent that the machine would become uneconomical after December 31, 2018, and that the machine would have no salvage value.Accumulated depreciation on this machine at December 31, 2016, was $118,000, using the straight-line method.The depreciation expense for 2017 should be

• A)$95,500.
• B)$82,000.
• C)$76,400.
• D)$191,000.

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Definitions:

Simple Majority Vote

A voting system where the highest number of votes cast for any one candidate or option surpasses the number of votes for any other, without requiring more than half of total votes.

Permanent Member

An individual or state that holds constant membership in an organization or committee, often with special voting rights, such as the five permanent members of the UN Security Council.

Military Assistance

Support and aid provided by the military, which can include defensive aid, training, or the supply of weapons and equipment to other countries or entities.

United States

A country primarily located in North America, consisting of 50 states, a federal district, five major self-governing territories, and various possessions.