An Asset Was Purchased for $200,000

question 125

Multiple Choice

An asset was purchased for $200,000.It had an estimated residual value of $40,000 and an estimated useful life of ten years.After four years of use,the estimated residual value is revised to $28,000.Assuming straight-line depreciation,depreciation expense in year 5 of use would be

• A) $18,000.
• B) $17,144.
• C) $28,668.
• D) $15,333.

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Definitions:

Hiberno-Saxon

An art style that flourished in the monasteries of the British Isles in the early Middle Ages. Also called Insular.

Medieval Monasteries

Religious communities or buildings where monks or nuns live, work, and pray, prevalent during the medieval period across Europe.

Alternate-Support System

In church architecture, the use of alternating wall supports in the nave, usually piers and columns or compound piers of alternating form.

Early Christian

Refers to the art and architecture of the Christian church from its inception up to the start of the Byzantine period, characterized by simple and symbolic forms.