On January​ 2, 2023, Kellogg Corporation acquired equipment for $300,000. The estimated life of the equipment is 5 years or 80,000 hours. The estimated residual value is $30,000. What is the book value of the asset on December​ 31, 2024, if Kellogg Corporation uses the straightline method of​ depreciation? (Round any intermediary calculations to two decimal places and your final answer to the nearest​ dollar.)   A.$ 192,000     B.$ 300,000     C.$ 270,000

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
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Problem 8MC: On July 1, 2018, Mundo Corporation purchased factory equipment for 50,000. Residual value was...
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On January​ 2, 2023, Kellogg Corporation acquired equipment for $300,000. The estimated life of the equipment is 5 years or 80,000 hours. The estimated residual value is $30,000. What is the book value of the asset on December​ 31, 2024, if Kellogg Corporation uses the straightline method of​ depreciation? (Round any intermediary calculations to two decimal places and your final answer to the nearest​ dollar.)

 
A.$ 192,000
 
 
B.$ 300,000
 
 
C.$ 270,000
 
 
D.$ 246,000
 
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