Welcome Corporation purchased equipment for $267,000. The equipment is estimated to have a useful life of 10 years and a residual value of $27,000. Welcome uses straight-line depreciation and has a December 31 year end. On January 1, 2023, the net book value of the equipment is $211,000. What is the date of purchase of the equipment?
A) January 1, 2019
B) September 1, 2019
C) September 30, 2019
D) September 1, 2020
Correct Answer:
Verified
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