depreciable asset which cost $ 16,000 was purchased on January 1. The asset has a $ 2,000 estimated salvage value. The company uses straight-line depreciation and expects the asset to have a 4- year life. What is the total depreciation expense for the current year?
$ 4,000 $ 3,000 $ 3,500 $ 2,625 $ 875
Question 16. Question: On December 31, 2010, Stable Company sold a piece of equipment that was purchased on January 1, 2005. The equipment originally cost $ 820,000 and has an estimated useful life of eight years. Stable uses the straight-line method of depreciation. What is the gain / loss on the sale of equipment that Stable will recognize if the equipment was sold for $ 230,000?
$ 230,000 Gain $ 25,000 Loss $ 25,000 Gain $ 73,750 Gain
depreciable asset which cost $ 16,000 was purchased on January 1. The asset has a $ 2,000 estimated salvage value. The company uses straight-line depreciation and expects the asset to have a 4- year life. What is the total depreciation expense for the current year?
$ 4,000 $ 3,000 $ 3,500 $ 2,625 $ 875
Question 16. Question: On December 31, 2010, Stable Company sold a piece of equipment that was purchased on January 1, 2005. The equipment originally cost $ 820,000 and has an estimated useful life of eight years. Stable uses the straight-line method of depreciation. What is the gain / loss on the sale of equipment that Stable will recognize if the equipment was sold for $ 230,000?
$ 230,000 Gain $ 25,000 Loss $ 25,000 Gain $ 73,750 Gain