An Asset Being Depreciated with the Straight-Line Method Has a Residual

question 35

Multiple Choice

An asset being depreciated with the straight-line method has a residual value of $10,000 and accumulated depreciation expense of $30,000 in its second year. What was the original cost of the asset if its useful life was 5 years?

• A) $160,000
• B) $140,000
• C) $ 85,000
• D) $75,000

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Definitions:

Macro Object

A set of coded instructions that automate repetitive or complex tasks within software applications.

Macro Design View

An interface in software applications, particularly databases, where users can create or edit macros to automate repetitive tasks.

Delete Button

A user interface element, typically represented by an icon, that allows users to remove data, files, or entries from an application or system.

Series Of Steps

A sequence of actions or operations that follow an order to achieve a specific goal or complete a process.