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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

FINANCIAL ACCOUNTING
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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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
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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