An Asset Was Purchased for $140,000

question 174

Multiple Choice

An asset was purchased for $140,000.It had an estimated salvage value of $35,000 and an estimated useful life of 10 years.After 5 years of use, the estimated salvage value is revised to $28,000 but the estimated useful life is unchanged.Assuming straight-line depreciation, depreciation expense in Year 6 would be

• A)$21,000.
• B)$14,875.
• C)$11,900.
• D)$17,500.

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Definitions:

Long-Term Memory

The phase or type of memory responsible for the storage of information over extended periods, ranging from days to years.

Relationships

Connections or associations between people, objects, concepts, or other entities, defined by specific qualities or characteristics.

Timing Of Events

The study or consideration of the sequencing and duration of events, often important in understanding human cognition and behavior.

Encoding Specificity

The principle that recall is more effective if the context at the time of encoding is similar to the context at the time of retrieval.