Use the Following Information for Questions

question 81

Multiple Choice

Use the following information for questions
On January 1, 2022, Anvil Corp.purchased equipment for $60,000.It was expected to last 5 years, after which it will be sold for $5,000.It is expected to be used for a total of 10,000 machine hours, and was used for 750 hours during the year ended December 31, 2022.
-The depreciation expense for 2022 using the units-of-production method will be

• A)$4,125.
• B)$11,000.
• C)$4,500.
• D)$12,250.

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Definitions:

Defendant

A person or entity against whom a lawsuit is filed in a court of law.

Summons

A legal document issued by a court and addressed to a defendant that notifies him or her of a lawsuit and specifies how and when to respond to the complaint. A summons may be used in both civil and criminal proceedings.

Service Document

A legal document or form that is served to parties involved in a legal process or transaction, indicating compliance with certain legal procedures or steps.

Ripeness

A measure of the readiness of a case for a decision to be made; designed to prevent premature litigation for a dispute that is insufficiently developed. A claim is not ripe for litigation if it rests on contingent future events that may not occur as anticipated or may not occur at all.