Accounting MCQ
Accounting
A company purchased a machine for $100,000 on October 1, 2021. The estimated service life is 10 years with a $10,000 residual value. The company records partial-year depreciation based on the number of months in service. Depreciation expense for the year ended December 31, 2021, using straight-line depreciation, is:
A company purchased a machine for $100,000 on October 1, 2021. The estimated service life is 10 years with a $10,000 residual value. The company records partial-year depreciation based on the number of months in service. Depreciation expense for the year ended December 31, 2021, using straight-line depreciation, is:
A company purchased a machine for $100,000 on October 1, 2021. The estimated service life is 10 years with a $10,000 residual value. The company records partial-year depreciation based on the number of months in service. Depreciation expense for the year ended December 31, 2021, using straight-line depreciation, is:
A) $1,500.
B) $7,500.
C) $2,250.
D) $2,500.
Answer: C
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