On October 1 of this year, SportsWorld purchased a delivery van for $23,000 with a residual...

 

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On October 1 of this year, SportsWorld purchased a delivery van for $23,000 with a residual value of $3,000. The van has an estimated useful life of 5 years. Using straight-line depreciation and the half-year rule, how much depreciation expense should SportsWorld recognize on December 31 of this year? O $1,465 O $4,600 O $1,000. O $1,333 O $2,000 Other: 1 point On October 1 of this year, SportsWorld purchased a delivery van for $23,000 with a residual value of $3,000. The van has an estimated useful life of 5 years. Using straight-line depreciation and the half-year rule, how much depreciation expense should SportsWorld recognize on December 31 of this year? O $1,465 O $4,600 O $1,000. O $1,333 O $2,000 Other: 1 point

Answer rating: 100% (QA)

Under the halfyear convention it is assumed that asset is acquired in the m... View the full answer