← Gulfcoast, Inc. purchased a van on January 1, 2019, for $830,000. Estimated life of the van was five years, and its estimated residual value was $94,000. Gulfcoast uses the straight-line method of depreciation. Calculate the book value of the van at the end of 2019. OA. $778,125 B. $682,800 C. $674,375 OD. $736,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Gulfcoast, Inc. purchased a van on January 1, 2019, for $830,000. Estimated life of the van was five years, and its
estimated residual value was $94,000. Gulfcoast uses the straight-line method of depreciation. Calculate the book
value of the van at the end of 2019.
OA. $778,125
B. $682,800
C. $674,375
OD. $736,000
Transcribed Image Text:← Gulfcoast, Inc. purchased a van on January 1, 2019, for $830,000. Estimated life of the van was five years, and its estimated residual value was $94,000. Gulfcoast uses the straight-line method of depreciation. Calculate the book value of the van at the end of 2019. OA. $778,125 B. $682,800 C. $674,375 OD. $736,000
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