If equipment with a 5-year life was purchased on July 1, 2012 for $40,000, by December 31, 2013,
A) the accumulated depreciation would be $16,000 and the carrying amount would be $24,000.
B) the accumulated depreciation would be $8,000 and the carrying amount would be $16,000.
C) the accumulated depreciation would be $12,000 and the carrying amount would be $28,000
D) the accumulated depreciation would be $12,000 and the carrying amount would be $36,000
Correct Answer:
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