An Asset That Originally Cost $6,000 Is Being Depreciated on the Straight-Line

question 100

Multiple Choice

An asset that originally cost $6,000 is being depreciated on the straight-line basis over an estimated useful life of 5 years.The estimated residual value was $1,500.Near the end of year 3,it was decided that better estimates would have been a total life of 6 years and a residual value of $800.Depreciation expense for year 3 would be:

• A) $900
• B) $750
• C) $850
• D) $825

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Definitions:

Single-gene Disorder

A genetic disorder caused by mutations in a single gene, affecting the organism's development or functioning.

Dominant

Assuming a position of power, influence, or greater importance in a relationship or situation.

Extra-chromosome Condition

A genetic condition characterized by having more than the usual number of chromosomes in the cells of an organism, often resulting in developmental differences.

Down Syndrome

A genetic disorder caused by the presence of an extra 21st chromosome, leading to developmental and intellectual delays.