Equipment was purchased for $800,000 on January 1, 2013. It has an estimated useful life of 8 years and a salvage value of $120,000. Depreciation is being computed using the straight-line method. What amount should be shown for the Equipment, net of accumulated depreciation, in the company's 2014 balance sheet?
A. $630,000.
B. $715,000.
C. $595,000.
D. $510,000

Answer rating: 100% (QA)

Answer is 630000 Explanation Depreciation Expense per year ... View the full answer