Question: On January 1 , 2 0 1 3 , Dexter Corporation purchased a piece of equipment, which is being depreciated on a straight - line

On January 1,2013, Dexter Corporation purchased a piece of equipment, which is being depreciated on a straight-line basis over a useful life of 5 years, with a residual value of $20,000. The equipment's accumulated depreciation account has a credit balance of $78,000 and an adjusted credit balance of $100,000 on January 1,2015 and December 31,2015, respectively. The original cost of the equipment is
Multiple Choice
$20,000
$100,000
$110,000
None of the other alternatives are correct
$130,000

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