Biglersville Corp

question 154

Multiple Choice

Biglersville Corp.purchased equipment at the beginning of 2016 for $16,000.Biglersville Corp.decided to depreciate the equipment over a 5-year period using the straight-line method.Biglersville Corp.estimated the equipment's residual value at $1,000.The estimated fair market value at the end of 2016 was $15,000.Which of the following statements is correct concerning Biglersville Corp.'s financial statements at December 31, 2016?

• A) The book value of the equipment is $30,000.
• B) The book value of the equipment is $13,000.
• C) The total accumulated depreciation is $1,000.
• D) The equipment will be reported on the balance sheet at it fair market value of $15,000.

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Analyst

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Emotional states or reactions that are experienced subjectively and are often expressed through thoughts and behavior.

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A phenomenon in psychotherapy where the feelings a patient has toward their therapist are based on the patient's feelings toward someone else in their life.

Analyst

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