Francisco Owns a Machine That It Purchased on July 1

question 31

Multiple Choice

Francisco owns a machine that it purchased on July 1, 2019 for $600,000. The machine had an estimated useful life of 8 years and an estimated residual value of $10,000. The company uses straight-line depreciation and records monthly depreciation. The machine was sold on December 31, 2024 for $350,000. What was the depreciation expense for 2019?

• A)$30,729
• B)$36,875
• C)$73,750
• D)$75,000

---

Definitions:

Adjustment Handle

A graphical interface element that allows users to click and drag to modify the size, shape, or other properties of an object in software applications.

Sizing Handle

A graphical interface tool, often appearing as small boxes or dots at the corners or edges of a selected object, used to resize the object.

Control Handle

Interactive graphical elements that allow users to manipulate the size, shape, or configuration of objects in graphic design and interfaces.

Ruler

A tool in software applications that provides a guide for aligning text, graphics, or other elements on a page.