On January 1,2016,Ruiz Company spent $850 on a plant asset to improve its quality.The asset had been purchased on January 1,2014 for $8,400 and had an estimated salvage value of $1,200 and a useful life of five years.Owens uses the straight-line depreciation method.Which of the following correctly shows the effects of the 2016 expenditure on the financial statements?

Question

On January 1,2016,Ruiz Company spent $850 on a plant asset to improve its quality.The asset had been purchased on January 1,2014 for $8,400 and had an estimated salvage value of $1,200 and a useful life of five years.Owens uses the straight-line depreciation method.Which of the following correctly shows the effects of the 2016 expenditure on the financial statements?
On January 1,2016,Ruiz Company spent $850 on a plant asset to improve its quality.The asset had been purchased on January 1,2014 for $8,400 and had an estimated salvage value of $1,200 and a useful life of five years.Owens uses the straight-line depreciation method.Which of the following correctly shows the effects of the 2016 expenditure on the financial statements?

Quizplus · Accepted Answer

The Answer of On January 1,2016,Ruiz Company spent $850 on a plant asset to improve its quality.The asset had been purchased on January 1,2014 for $8,400 and had an estimated salvage value of $1,200 and a useful life of five years.Owens uses the straight-line depreciation method.Which of the following correctly shows the effects of the 2016 expenditure on the financial statements?

On January 1,2016,Ruiz Company Spent $850 on a Plant Asset