Roberto, Inc. purchased a truck on January 1, 2016, for $96,000. At that time, the truck's useful life was an estimated four years with no salvage value. Before the entry to record 2019 depreciation was made, the truck's estimated useful life was changed to six years with a $1,800 salvage value. Using straight-line deprecation, what is the 2019 depreciation expense? A) $ 6,000 B) $ 7,400 Listen C) $12,000 D) $2,700
Roberto, Inc. purchased a truck on January 1, 2016, for $96,000. At that time, the truck's useful life was an estimated four years with no salvage value. Before the entry to record 2019 depreciation was made, the truck's estimated useful life was changed to six years with a $1,800 salvage value. Using straight-line deprecation, what is the 2019 depreciation expense? A) $ 6,000 B) $ 7,400 Listen C) $12,000 D) $2,700
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Roberto, Inc. purchased a truck on January 1, 2016, for $96,000. At that time, the
truck's useful life was an estimated four years with no salvage value. Before the entry
to record 2019 depreciation was made, the truck's estimated useful life was changed
to six years with a $1,800 salvage value.
Using straight-line deprecation, what is the 2019 depreciation expense?
A) $ 6,000
B) $ 7,400
Listen
C) $12,000
D) $2,700
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