MC Qu. 87 On March 2, 2009, Glen Industries purchased ... On March 2, 2009, Glen
ID: 2360455 • Letter: M
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MC Qu. 87 On March 2, 2009, Glen Industries purchased ...
On March 2, 2009, Glen Industries purchased a fleet of automobiles at a cost of $780,000. The cars are to be depreciated by the straight-line method over five years with no salvage value. Glen uses the half-year convention to compute depreciation for fractional periods. The book value of the fleet of automobiles at December 31, 2010, will be:
On March 2, 2009, Glen Industries purchased a fleet of automobiles at a cost of $780,000. The cars are to be depreciated by the straight-line method over five years with no salvage value. Glen uses the half-year convention to compute depreciation for fractional periods. The book value of the fleet of automobiles at December 31, 2010, will be:
Explanation / Answer
$624,000.
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