On 12/31/17, the unadjusted trial balance shows that the Equipment account has a balance of $16,950...
On 12/31/17, the unadjusted trial balance shows that the Equipment account has a balance of $16,950 and the Accumulated Depreciation-Equipment account has a balance of $5,650. The equipment was purchased on 5/1/15, has a useful life of 5 years and no salvage value. Assume The Android’s Dungeon and Baseball Card Shop uses straight line depreciation (i.e. allocates the cost evenly). What is the Net Book Value of the equipment that is shown on the 12/31/17 Balance Sheet? a. $3,390 b. $5,650 c. $7,910 d. $11,300 e. $14,690
Homework Answers
| Cost of Equipment | 16950 | |
| Divide by Useful life | 5 | |
| Annual Depreciation | 3390 | |
| Equipment account balance | 16950 | |
| Less: Accumulated Depreciation-Equipment | 9040 | =5650+3390 |
| Net Book Value of the equipment on the 12/31/17 Balance Sheet | 7910 | |
| Option C $7,910 is correct |
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On 12/31/17, the unadjusted trial balance shows that the
Equipment account has a balance of $16,950...
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