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Cutter Enterprises purchased equipment for $81,000 on January 1, 2021. The equipment is expected to...

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Accounting

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Cutter Enterprises purchased equipment for $81,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $7,800 Using the straight line method, the book value at December 31, 2021, would be Multiple Choice $57.000 $64.800 O $66,360. $58.560 Canliss Mining uses the replacement method to determine depreciation on its office equipment. During 2019, its first year of operations, office equipment was purchased at a cost of $24,000. Useful life of the equipment averages four years and no salvage value is anticipated. In 2021, equipment costing $5,400 was sold for $450 and replaced with new equipment costing $7,500. Canliss would record 2021 depreciation of Multiple Choice $4,800 0 $4,950. $7.050 O None of these answer choices are correct

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