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Lucky Company Purchased a Truck at a Cost of $12,000

Question 39

Multiple Choice

Lucky Company purchased a truck at a cost of $12,000 in 2010.As of January 1, 2015, depreciation of $10,000 had been recorded on this asset.Depreciation expense for 2015 is $2,000.After the adjustments are recorded and posted at December 31, 2015, what is the carrying value of the truck?


A) $ 2,000
B) $ 5,500
C) $12,000
D) $ -0-

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