On September 1,2012,Algernon Company sold a truck for $15,000 cash.The truck was originally purchased for $40,000,had an estimated salvage value of $4,000 and an estimated life of 6 years.Algernon had recorded depreciation of $30,000 through the end of 2011 using the straight-line method.Algernon had to update the depreciation prior to sale.After updating the depreciation,how much was the total accumulated depreciation on the truck?
A) $34,250
B) $34,440
C) $36,000
D) $34,000
Correct Answer:
Verified
Q100: A company purchased equipment for $100,000 in
Q101: Job Sales sold a truck for
Q102: Albatross Services scrapped a van.The van originally
Q103: To determine if there is a gain
Q104: On September 1,2012,Algernon Company sold a truck
Q106: Barnhart's sold a piece of restaurant equipment
Q107: Kelly Petroleum Products owns furniture that
Q108: Albatross Services scrapped a van.The van originally
Q109: Corey Sales sold its old office furniture
Q110: Barnhart's sold a piece of restaurant equipment
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents