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A company purchased $150,000 worth of production equipment on April 1. Management decided to depreciate the equipment over four years using straight line depreciation. The salvage value is $30,000. The company uses a calendar year as its fiscal year.
What is the impact on the financial statements for fiscal year 2 from this purchase?
A. Accumulated depreciation will be recorded as $75,000.B. Depreciation expense will be $37,500.C. Accumulated depreciation will be recorded as $60,000.D. Depreciation expense will be $30,000.
He does remember that the machine has a projected life of 12 years. Based on these data, the annual cost savings are:
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