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Author Question: Julie bought a boat at the beginning of the year for 35,000. The boat has an estimated life of 8 ... (Read 173 times)

melly21297

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on: Jun 24, 2018
Julie bought a boat at the beginning of the year for 35,000. The boat has an estimated life of 8 years and a salvage value of 14,000 at the end of the 8-year period. What is the book value after the first year?
 A) 32,375
  B) 29,750
  C) 21,000
  D) 2,625

Question 2

The original cost of a wave runner was 8,000 with an estimated life of 5 years. What is the first-year depreciation?
 A) 3,200
  B) 1,600
  C) 800
  D) 400


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kthug

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Reply #1 on: Jun 24, 2018
Answer to Question 1

A

Answer to Question 2

A


melly21297

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Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

patma1981

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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