Laker 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) $24,000
B) $33,000
C) $18,000
D) $21,000

Question

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The Answer of Laker 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) $24,000
B) $33,000
C) $18,000
D) $21,000

Laker Company Acquired a Machine for $33,000