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

question 32

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,Charterhouse revised the estimated life of the asset from 5 years to 6 years.How much was the depreciation expense in the year 2014?

• A) $12,000
• B) $6,000
• C) $9,000
• D) $7,500

Identify the effect of psychoanalytic and cognitive theories on gender-specific behaviors.

Analyze the historical and current differences between males and females in mathematical skills.

Understand the criteria affecting companion choice in middle childhood by boys and girls.

Describe sociometry and its application in assessing children’s peer status.

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Definitions:

Cost-Reduction Emphasis

A strategic focus of an organization on identifying and implementing ways to decrease expenses and costs to improve profitability.

Differential Analysis

The process of comparing the costs and benefits of alternative decisions or investments to determine the best option.

Book Value

The value of an asset according to its balance sheet account balance, taking into account the cost of the asset minus any depreciation, amortization, or impairment costs.

Annual Costs

The total amount of expenditures associated with the ongoing operations of a business or project over the course of a year.