Use the Following Information for Questions -Depreciation Expense for 2020 Was
A) $ 86,000

question 25

Multiple Choice

Use the following information for questions.
During calendar 2020, Laertes Corp. sold equipment for $ 70,000. The equipment had cost $ 100,000 and had a book value of $ 52,000 at the time of sale. Data from their comparative statements of financial position are: $\begin{array}{lrr}&\operatorname{Dec} 31 / 20&\operatorname{Dec} 31 / 19\\\text { Equipment } & \$ 720,000 & \$ 650,000 \\\text { Accumulated Depreciation } & 210,000 & 190,000\end{array}$
-Depreciation expense for 2020 was

• A) $ 86,000.
• B) $ 68,000.
• C) $ 18,000.
• D) $ 12,000.

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