Net income for Trent Company for 2011 includes the effect of the following transactions involving the sale of fixed assets:

Purchases of fixed assets during 2011 amounted to $340,000. The Accumulated Depreciation account increased $40,000 during 2011. How much was depreciation expense for 2011?
A) $217,000
B) $270,000
C) $40,000
D) $32,000

Question

Net income for Trent Company for 2011 includes the effect of the following transactions involving the sale of fixed assets:

Purchases of fixed assets during 2011 amounted to $340,000. The Accumulated Depreciation account increased $40,000 during 2011. How much was depreciation expense for 2011?
A) $217,000 
B) $270,000 
C) $40,000 
D) $32,000

Quizplus · Accepted Answer

The Answer of Net income for Trent Company for 2011 includes the effect of the following transactions involving the sale of fixed assets:

Purchases of fixed assets during 2011 amounted to $340,000. The Accumulated Depreciation account increased $40,000 during 2011. How much was depreciation expense for 2011?
A) $217,000 
B) $270,000 
C) $40,000 
D) $32,000

Net Income for Trent Company for 2011 Includes the Effect