A company purchased medical equipment for $100,000 on January 1, 2009. The company determined that the...
A company purchased medical equipment for $100,000 on January 1, 2009. The company determined that the yearly depreciation expense is $10,000. At December 31, 2012, the book value of the asset is:
A) $10,000.
B) $40,000.
C) $60,000.
D) $100,000.
Homework Answers
Book value of asset:
= Asset cost-Accumulated depreciation
= $100,00-$10,000×4
= $100,000-$40,000
= $60,000
Hence, correct option is C) $60,000.
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