nment FULL SCREEN PRINTER VERSION BACK NEXT Exercise 9-2 a-d Hohnberger Enterprises purchased equipment on March 15, 2018, for $75,000. The company also paid the following amounts: $500 for freight charges; $200 for insurance while the equipment was in transit; $1,800 for a one-year insurance policy; $2,100 to train employees to use the new equipment; and $2,800 for testing and installation. The equipment was ready for use on April 1, but the company did not start using it until May 1. Hohnberger has estimated the equipment will have a 10-year useful life with no residual value. It expects to consume the equipment's future economic benefits evenly over the useful life. The company has a December 31 year end. dy x Your answer is incorrect. Try again. Calculate the cost of the equipment. X Cost of the equipment 80100 Your answer is correct. When should the company begin depreciating the equipment: March 15, April 1, or May 1? April SHOW SOLUTION FULL SCREEN PRINTER VERSION BACK NEXT) Your answer is correct. Which depreciation method should the company use? Straight-line method SHOW SOLUTION LINK TO TEXT LINK TO TEXT x Your answer is incorrect. Try again. Using the method chosen above, calculate the depreciation on the equipment for 2018. (Round answer to o decimal places, e.g. 5,275.) x Depreciation for 2018 6008 S Question Attempts: 2 of 10 used SAVE FOR LATER SUBMIT ANSWER 1 Privacy Policy. I 2000-2020 John Wiley & Sons, Inc. All Rights Reserved. A Division of lohn Wiley & Sons, Inc. Version 4.24.20.1