Question

On March 2, 2014, Glen Industries purchased a fleet of automobiles at a cost of $550,000. The cars are
to be depreciated by the straight-line method over five years with no salvage value. Glen uses the half-
year convention to compute depreciation for fractional periods. The book value of the fleet of
automobiles at December 31, 2015, will be:​

Answer 1

Answer:

On March 2, 2014, Glen Industries purchased a fleet of automobiles at a cost of $550,000. The cars are

to be depreciated by the straight-line method over five years with no salvage value. Glen uses the half-

year convention to compute depreciation for fractional periods. The book value of the fleet of

automobiles at December 31, 2015, will be:

Explanation: