Net income for Parton Company for 2014 includes the effect of the following transactions involving the sale of fixed assets: Purchases of fixed assets during 2014 amounted to $340,000.The Accumulated Depreciation account increased $40,000 during 2014.How much was depreciation expense for 2014?
A) $175,000
B) $187,000
C) $197,000
D) $215,000

Question

Net income for Parton Company for 2014 includes the effect of the following transactions involving the sale of fixed assets:  Purchases of fixed assets during 2014 amounted to $340,000.The Accumulated Depreciation account increased $40,000 during 2014.How much was depreciation expense for 2014?
A) $175,000 
B) $187,000 
C) $197,000 
D) $215,000

Quizplus · Accepted Answer

The Answer of Net income for Parton Company for 2014 includes the effect of the following transactions involving the sale of fixed assets:  Purchases of fixed assets during 2014 amounted to $340,000.The Accumulated Depreciation account increased $40,000 during 2014.How much was depreciation expense for 2014?
A) $175,000 
B) $187,000 
C) $197,000 
D) $215,000

Net Income for Parton Company for 2014 Includes the Effect