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tivo tivo
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7 years ago
A machine with a cost of $15,000, a salvage value of $3,000 and expected life of 20 years was purchased on September 1. For a calendar year company, the journal entry to record depreciation expense for the first year would be to:
A) debit Depreciation Expense, $50; credit Accumulated Depreciation, $50.
B) debit Depreciation Expense, $250; credit Accumulated Depreciation, $250.
C) debit Depreciation Expense, $200; credit Accumulated Depreciation, $200.
D) debit Depreciation Expense, $150; credit Accumulated Depreciation, $150.
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Financial Accounting

Financial Accounting


Edition: 3rd
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antonio_johnantonio_john
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Massachusetts Institute of Technology
-- Accounting

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tivo Author
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#2
7 years ago
I appreciate it once again, answered correctly
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