Raspier Company purchased a truck at a cost of $12,000 in 2005. As of January...
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Accounting
Raspier Company purchased a truck at a cost of $12,000 in 2005. As of January 1, 2010, depreciation of $10,000 had been recorded on this asset. Depreciation expense for 2010 is $2,000. After the adjustments are recorded and posted at Dec 31, 2010, what is the carrying value of the truck?
a. $2,000
b. $5,500
c. 12,000
d. $ -0-
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