On January 1, 2022. Swifty Company purchased equipment for $41000. The company is depreciating the equipment at the rate of $820 per month. The book value of the equipment at December 31, 2022 is $41000. O $0. O $31160. O $9840.

On January 1, 2022. Swifty Company purchased equipment for $41000. The company is depreciating the equipment at the rate of $820 per month. The book value of the equipment at December 31, 2022 is $41000. O $0. O $31160. O $9840.

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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Question

On January 1, 2022, Swifty Company purchased equipment for $41000. The company is depreciating the equipment at the rate of
$820 per month. The book value of the equipment at December 31, 2022 is
O $41000.
O $0.
O $31160.
O $9840.

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