Equipment costing $13,500 with an estimated salvage value of $1,020 and an estimated life of 4 years was purchased on November 1,2016.Using the straight-line depreciation method,what is the amount of depreciation expense to be recorded at December 31,2016?
A) $260
B) $520
C) $3,120
D) $1,020

Question

Quizplus · Accepted Answer

The Answer of Equipment costing $13,500 with an estimated salvage value of $1,020 and an estimated life of 4 years was purchased on November 1,2016.Using the straight-line depreciation method,what is the amount of depreciation expense to be recorded at December 31,2016?
A) $260
B) $520
C) $3,120
D) $1,020

Equipment Costing $13,500 with an Estimated Salvage Value of $1,020