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.

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Definitions:

Evolution

The process through which different kinds of living organisms are believed to have developed from earlier forms during the history of the earth.

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The deterioration of the environment through depletion of resources, destruction of ecosystems, and extinction of wildlife.

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The ongoing rise in the average temperature of the Earth's climate system, largely due to the greenhouse gas emissions from human activities.

Industrial Pollution

Contaminants released into the environment as a result of manufacturing, processing, and using various goods, often harming ecosystems and human health.