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:

Precava

A term not recognized as a standard anatomical or medical key term, indicating it may be incorrect or misspelled. NO.

External Jugular Vein

A vein located on each side of the neck that drains blood from the head, neck, and upper chest area into the superior vena cava.

Subclavian Vein

A large vein located under the collarbone (clavicle) that drains blood from the upper extremities back to the heart.

Pulmonary Vein

The blood vessels that carry oxygenated blood from the lungs back to the left atrium of the heart.