Able Towing Company purchased a tow truck for $60,000 on January 1, 2017. It was originally depreciated
Question:
Able Towing Company purchased a tow truck for
$60,000 on January 1, 2017. It was originally depreciated
on a straight-line basis over 10 years with an
assumed salvage value of $12,000. On December 31,
2019, before adjusting entries had been made, the
company decided to change the remaining estimated life to 4 years (including 2019) and the salvage value to
$2,000. What was the depreciation expense for 2019?
(a) $6,000.
(b) $4,800.
(c) $15,000.
(d) $12,100.
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Related Book For
Financial Accounting
ISBN: 9781119298229,9781119305842
10th Edition
Authors: Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel
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