Gulfcoast Company Purchased a Van on January 1,2019,for $930,000

question 170

Multiple Choice

Gulfcoast Company purchased a van on January 1,2019,for $930,000.Estimated life of the van was five years,and its estimated residual value was $95,000.Gulfcoast uses the straight-line method of depreciation.Calculate the book value of the van at the end of 2019.

• A) $755,625
• B) $871,875
• C) $835,000
• D) $763,000

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Definitions:

18 Months

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Achieving a desired goal or objective through effort, skill, or courage, often recognized by society through various forms of reward or acknowledgment.

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