What would be the book value at end of year 1

Assignment Help Accounting Basics

Reference no: EM13135538

A truck costs $16,000 with a residual value of $1,000. It has an estimated useful life of 5 years. If the truck was bought on July 3, what would be the book value at end of year 1?
Answer

$16,000

$12,500

$14,500

$1,500

None of these

Reference no: EM13135538

Questions Cloud

Avon in international environment : This solution provides an evaluation of Avon's operations in global markets discussing Avon's use of international cadre development and building company associates along with independent representatives.

Prepare the appropriate journal entries : The overhaul was completed on January 7, 2011 at a cost of $28,000. Because of a slowdown in the economy, the truck only operated for 21,000 km for the remainder of 2011. Instructions Prepare the appropriate journal entries for 2011 relating to t..

What is the specific heat capacity of the alloy : A 33.0-g sample of an alloy at 93.0°C is placed into 258 g of water at 22.0°C in an insulated coffee cup. Assume that no heat is absorbed by the cup. If the final temperature of the system is 31.1°C

International managment teams : This solution provides the learner with a discussion of the role of international management teams relative to the level of a company's goal involvement.

What would be the book value at end of year 1 : A truck costs $16,000 with a residual value of $1,000. It has an estimated useful life of 5 years. If the truck was bought on July 3, what would be the book value at end of year 1?

Contingency leadership theory : This solution provides the learner with an understanding of the theory of contingency leadership and discusses the role of culture in the theory.

What is the limiting reagnant : CH4(g) + 2 O2 --> CO2(g) + H2O(g) suppose 1.5 mol of methane is allowed to react with 4 mol of oxygen. what is the limiting reagnant?

Physical examination of health care''s readiness for quality : Provide a brief overview of the quality improvement process. Be sure to give examples and to specifically discuss what quality improvement teams are.

What measure has the largest weighting : In a balanced scorecard for a large financial bank ,do the different measures carry different weights? And if so, what measure has the largest weighting (counts the most)and why?

User Account

All Pages