On October 1 2022 Mann Company Places a New Asset

question 135

Multiple Choice

On October 1 2022 Mann Company places a new asset into service.The cost of the asset is $120000 with an estimated 5-year life and $30000 salvage value at the end of its useful life.What is the depreciation expense for 2022 if Mann Company uses the straight-line method of depreciation?

• A)$4500.
• B)$24000.
• C)$6000.
• D)$12000.

---

Definitions:

Format

The arrangement, structure, or layout of data, which dictates how it is stored, displayed, or transmitted.

Fgets()

Fgets() is a function in C that reads a line from a specified stream and stores it into the string pointed to, stopping when a newline character is found.

End Of File

A special marker or condition in file handling that indicates no more data is available for reading from a file.

'\0'

A null character used in C and some other programming languages to denote the end of a string.