on January 1, 2011, Masters and Masters Company purchased equipment for $ € 30,000 $. The company is depreciating the equipment at the rate of $ € 700 $ per month. The book value of the equipment at December 31,2011 is

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The equipment is depreciated at €700 per month. Over 12 months, the total depreciation is €700 x 12 = €8,400. The book value at December 31, 2011, is the original cost minus depreciation: €30,000 - €8,400 = €21,600.

On January 1, 2011, Masters and Masters Company Purchased Equipment €30,000 € 30,000 €30,000

On January 1, 2011, Masters and Masters Company Purchased Equipment $€ 30,000$