Equipment Acquired on January 1,2020,is Sold on June 30,2024,for $11,200

question 51

Multiple Choice

Equipment acquired on January 1,2020,is sold on June 30,2024,for $11,200.The equipment cost $46,200,had an estimated residual value of $6,300,and an estimated useful life of 5 years.The company prepares financial statements on December 31,and the equipment has been depreciated using the straight-line method.On June 30,2024,the company should record Depreciation Expense for the first six months of the year of:

• A)$0.
• B)$1,995.
• C)$3,990.
• D)$7,980.

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Definitions:

Organic Matrix

The non-mineral, organic component of bone and teeth, made up of collagen and other proteins, which provides flexibility and strength.

Flexible Strength

Refers to the ability of a muscle or material to maintain effectiveness under varying conditions or degrees of flexibility.

Osteocytes

Mature bone cells that maintain bone tissue.

Cytoplasmic Extensions

Projections from the cell body which include structures like axons and dendrites in neurons, allowing for cell communication and interaction.