On June 22,2017,Ace Electronics sold an office building,which was not yet fully depreciated.How many months of depreciation expense should Ace record on the building for the year ended December 31,2017?
A) 6
B) 7
C) 12
D) 0

Question

Quizplus · Accepted Answer

Since the building was sold on June 22, Ace Electronics can only record depreciation expense for the period of January 1 to June 22, which is 6 months. Therefore, the answer is A) 6. There will be no depreciation expense recorded from June 23 to December 31, as the building has been sold.

On June 22,2017,Ace Electronics Sold an Office Building,which Was Not