8. Long Lived Assets
Depreciation: Straight Line
Multiple Choice
Multiple ChoiceDBQ Company purchased a machine on January 1, Year 1 for $60,000. The company estimated a five year useful life and $8,000 residual value. If the company uses the straight-line method for depreciation, what will be the amount of accumulated depreciation on December 31, Year 2?
A
$10,400
B
$12,000
C
$20,800
D
$24,000
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