A Machine with a Cost of $15,000,a Salvage Value of $3,000

question 137

Multiple Choice

A machine with a cost of $15,000,a salvage value of $3,000 and expected life of 20 years was purchased on September 1.For a calendar year company,the journal entry to record depreciation expense for the first year would be to:

• A)debit Depreciation Expense,$50;credit Accumulated Depreciation,$50.
• B)debit Depreciation Expense,$250;credit Accumulated Depreciation,$250.
• C)debit Depreciation Expense,$200;credit Accumulated Depreciation,$200.
• D)debit Depreciation Expense,$150;credit Accumulated Depreciation,$150.

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