Union Company purchased a delivery van at a cost of $30,000 cash on January 1,2016.The van has an estimated useful life of six years and a $6,000 estimated residual value.
?
$$\text { A. What is the effect on the accounting equation of the purchase of the van? }$$ ?
B. How much depreciation expense should be reported for 2017 ?

C. What is the total amount of accumulated depreciation at December 31,2017 ?

Question

Union Company purchased a delivery van at a cost of $30,000 cash on January 1,2016.The van has an estimated useful life of six years and a $6,000 estimated residual value.
?
 $$\text { A. What is the effect on the accounting equation of the purchase of the van? }$$ ?
  B. How much depreciation expense should be reported for 2017 ?

C. What is the total amount of accumulated depreciation at December 31,2017 ?

Quizplus · Accepted Answer

The Answer of Union Company purchased a delivery van at a cost of $30,000 cash on January 1,2016.The van has an estimated useful life of six years and a $6,000 estimated residual value.
?
 $$\text { A. What is the effect on the accounting equation of the purchase of the van? }$$ ?
  B. How much depreciation expense should be reported for 2017 ?

C. What is the total amount of accumulated depreciation at December 31,2017 ?

Union Company Purchased a Delivery Van at a Cost of $30,000