Business, 28.11.2019 19:31 abby5978

Gulf consulting co. reported the following on its december 31, 2011, balance sheet: equipment (at cost)…..$700,000. in a disclosure note, gulf indicates that it uses straight-line depreciation over five years and estimates salvage value as 10% of cost. gulf's equipment averages 3.5 years at december 31, 2011. what is the book value of gulf's equipment at december 31, 2011?
a.$490,000
b.$441,000
c.$259,000
d.$210,000

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Gulf consulting co. reported the following on its december 31, 2011, balance sheet: equipment (at c...