Use the Information Below for Flora Inc During 2018,Flora Inc

question 90

Multiple Choice

Use the information below for Flora Inc.for 2017 and 2018 to answer the following question: $\begin{array}{lr}\text { Equipment, December } 31,2017 & \$ 65,000 \\\text { Equipment, December 31,2018 } & 72,000 \\\text { Accumulated depreciation, December 31,2017 } & 39,000 \\\text { Accumulated depreciation, December 31,2018 } & 30,000\end{array}$ During 2018,Flora Inc.sold equipment with a cost of $30,000 and accumulated depreciation of $25,000.A gain of $3,000 was recognized on the sale of the equipment.This was the only equipment sale during the year.
What was depreciation expense for 2018?

• A)$9,000
• B)$16,000
• C)$21,000
• D)$30,000

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