Emir Company purchased equipment that cost $110,000 cash on January 1, Year 1. The equipment had an expected useful life of six years and an estimated salvage value of $8,000. Assuming that Emir depreciates its assets under the straight-line method, the amount of depreciation expense appearing on the Year 4 income statement and the amount of accumulated depreciation appearing on the December 31, Year 4, balance sheet would be:
Depreciation expense Accumulated depreciation
A. $ 17,000 $ 17,000
B. $ 17,000 $ 68,000
C. $ 68,000 $ 17,000
D. $ 17,000 $ 51,000
Multiple Choice
Option A
Option B
Option C
Option D
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