On September 1,2012,Algernon Company Sold a Truck for $15,000 Cash

question 106

Multiple Choice

On September 1,2012,Algernon Company sold a truck for $15,000 cash.The truck was originally purchased for $40,000,had an estimated salvage value of $4,000 and an estimated life of 6 years.Algernon had recorded depreciation of $30,000 through the end of 2011 using the straight-line method.Algernon had to update the depreciation prior to sale.After updating the depreciation,how much was the total accumulated depreciation on the truck?

• A) $34,250
• B) $34,440
• C) $36,000
• D) $34,000

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