Los Angeles Company acquired a machine for $33,000.At the beginning of the current year, the machine had accumulated depreciation of $12,000.Annual depreciation expense totaled $3,000.The book value of the machine at the end of the year equals_____.
A)$18,000
B)$21,000
C)$24,000
D)$33,000

Question

Quizplus · Accepted Answer

Book value = Cost - Accumulated depreciation= $33,000 - ($12,000 + $3,000)= $18,000

Los Angeles Company Acquired a Machine for $33,000