Below is selected information taken from the balance sheet of Huy Corporation as of 1 Land Machines Gross P, P&E Accumulated Depreciation Net P, P&E Depreciation expense 12/31/05 34 years 14 years 7 years 2 years $100,000 80,000 180,000 25,000 155,000 12/21/06 $100,000 70,000 170,000 10,000 $160,000 $5,000 The average age of Huy's depreciable assets as of 2006 is:

Below is selected information taken from the balance sheet of Huy Corporation as of 1 Land Machines Gross P, P&E Accumulated Depreciation Net P, P&E Depreciation expense 12/31/05 34 years 14 years 7 years 2 years $100,000 80,000 180,000 25,000 155,000 12/21/06 $100,000 70,000 170,000 10,000 $160,000 $5,000 The average age of Huy's depreciable assets as of 2006 is:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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