Sabrina's Fabric Land bought$5,000of equipment at the beginning of 2019. Amortization expense on the 2019 income statement is $400. What is the balance in accumulated amortization on December 31, 2019? A.$5,000 B.$400 C.$0 D.$4,600

Sabrina's Fabric Land bought$5,000of equipment at the beginning of 2019. Amortization expense on the 2019 income statement is $400. What is the balance in accumulated amortization on December 31, 2019? A.$5,000 B.$400 C.$0 D.$4,600

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion

Section: Chapter Questions

Problem 28CE

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Question

Sabrina's Fabric Land bought$5,000of
equipment at the beginning of 2019.
Amortization expense on the 2019 income
statement is $400. What is the balance in
accumulated amortization on December 31,
2019?
A.$5,000
B.$400
C.$0
D.$4,600

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