Abesu Inc. purchased equipment costing $20,000 on January 1, 2019. The equipment amortizes at a rate of 4% each year. Calculate the amortization expense on the equipment for 2020. 1. $1600 2. $800 3. $1568 4. None of the answers are correct 5. $768
Abesu Inc. purchased equipment costing $20,000 on January 1, 2019. The equipment amortizes at a rate of 4% each year. Calculate the amortization expense on the equipment for 2020. 1. $1600 2. $800 3. $1568 4. None of the answers are correct 5. $768
Chapter11: Property Dispositions
Section: Chapter Questions
Problem 64P
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(Multiple Choice Question)
Abesu Inc. purchased equipment costing $20,000 on January 1, 2019. The equipment amortizes at a rate of 4% each year. Calculate the amortization expense on the equipment for 2020.
1. $1600
2. $800
3. $1568
4. None of the answers are correct
5. $768
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