Adkins Bakery Uses the Modified Half-Month Convention to Calculate Depreciation

question 44

Multiple Choice

Adkins Bakery uses the modified half-month convention to calculate depreciation expense in the year an asset is purchased or sold.Adkins has a calendar year accounting period and uses the straight-line method to compute depreciation expense.On March 17,2018,Adkins acquired equipment at a cost of $200,000.The equipment has a residual value of $45,000 and an estimated useful life of 3 years.What amount of depreciation expense will be recorded for the year ending December 31,2018? (Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar.)

• A) $51,667
• B) $43,056
• C) $38,750
• D) $25,833

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