A company purchased equipment for $240,000 on March 1, 2021. The estimated service life is six years with a $60,000 residual value. The company records partial-year depreciation based on the number of months in service. Depreciation expense for the year ended December 31, 2021, using straight-line depreciation, is:
A. $40,000.
B. $33,333.
C. $25,000.
D. $30,000.
Answers: 3
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A company purchased equipment for $240,000 on March 1, 2021. The estimated service life is six years...
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