Canliss Mining Uses the Retirement Method to Determine Depreciation on Its

question 25

Multiple Choice

Canliss Mining uses the retirement method to determine depreciation on its office equipment.During 2014,its first year of operations,office equipment was purchased at a cost of $14,000.Useful life of the equipment averages four years and no salvage value is anticipated.In 2016,equipment costing $5,000 was sold for $600 and replaced with new equipment costing $6,000.Canliss would record 2016 depreciation of:

• A)$3,500.
• B)$4,400.
• C)$5,400.
• D)None of these answer choices are correct.

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Definitions:

Carbonic Anhydrase

An enzyme that catalyzes the conversion of carbon dioxide and water into carbonic acid, playing a critical role in the transport of carbon dioxide in the blood.

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is naturally present in air (about 0.04% by volume) and is absorbed by plants in photosynthesis.

Concentration Gradient

The gradual difference in the concentration of solutes in a solution between two regions, often resulting in diffusion.

Gas Exchange

Gas exchange is the biological process through which organisms exchange oxygen and carbon dioxide with their surroundings, critical for respiration.