On Oct 1 2021 Metro Company purchased equipment in exchange for a $77000 note payable.The equipment has an estimated salvage value of $17000 an estimated life of 4 years and is depreciated by the straight-line method.Use the following tabular analysis to determine the book value of the equipment at December 31 2022.
A)$56250.
B)$58250.
C)$31250.
D)$27000.

Question

On Oct 1 2021 Metro Company purchased equipment in exchange for a $77000 note payable.The equipment has an estimated salvage value of $17000 an estimated life of 4 years and is depreciated by the straight-line method.Use the following tabular analysis to determine the book value of the equipment at December 31 2022. 
A)$56250. 
B)$58250. 
C)$31250. 
D)$27000.

Quizplus · Accepted Answer

The Answer of On Oct 1 2021 Metro Company purchased equipment in exchange for a $77000 note payable.The equipment has an estimated salvage value of $17000 an estimated life of 4 years and is depreciated by the straight-line method.Use the following tabular analysis to determine the book value of the equipment at December 31 2022. 
A)$56250. 
B)$58250. 
C)$31250. 
D)$27000.

On Oct 1 2021 Metro Company Purchased Equipment in Exchange