Charterhouse Services Purchased a Van on January 1,2012,for $56,000

question 14

Multiple Choice

Charterhouse Services purchased a van on January 1,2012,for $56,000.It has an estimated life of 5 years,and an estimated salvage value of $6,000.Charterhouse uses straight-line depreciation.At the end of 2013,what was the book value of the asset?

• A) $36,000
• B) $30,000
• C) $36,000.
• D) $12,000

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