Problemon january 1 2014 ballard company spent 12000 on an, Ask an Expert

Accounting

Problem:

On January 1, 2014, Ballard Company spent $12,000 on an asset to improve its quality. The asset had been purchased on January 1, 2009 for $38,000. The asset had a $6,800 salvage value and a 6-year life. Ballard uses straight-line depreciation.

Required:

What would be the book value of the asset on January 1, 2015?

15,200
6,800
7,600,
15,600

Note: Please show the work not just the answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165850

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