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On January 1, 2019 Jeacle Corporation acquired equipment for $120,000. The estimated life of the...

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Question

Accounting

On January 1, 2019 Jeacle Corporation acquired equipment for $120,000. The estimated life of the equipment is 8 years or 14,000 hours. The estimated residual value is $4,000. If Jeacle uses the straight-line method of depreciation, what will be the debit to Depreciation Expense for the year ended December 31, 2020, during which period the asset was used 1,500 hours?

Select one:

a.

$14,500

b.

$15,000

c.

$12,429

d.

$12,000

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