If a business had depreciation expense of $4,000 for the last half of the year when it

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If a business had depreciation expense of $4,000 for the last half of the year when it acquired a non-current asset. If the asset had no scrap value and a useful life of 7 years, how much did the asset cost?

a. $80 000

b. $70 000

c. $63 000

d. $60 000

e. $56 000

Related Book For answer-question

Horngrens Financial and Managerial Accounting

ISBN: 978-0133255584

4th Edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Posted Date: Feb 26, 2022 01:28 AM

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If a business had depreciation expense of $4,000 for the last half of the year when it

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Depreciation for half year 400... View the full answer

Horngrens Financial and Managerial Accounting

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