1) Depreciation computed under doubledecliningbalance will decrease each year because: A.the book value used in the computation each year increases B.the rate used in the computation each year decreases C.the book value used in the computation each year decreases D.the rate used in the computation each year increases

2) At the end of an asset's useful life, the balance in Accumulated Depreciation will:

A.be greater under unitsofproduction depreciation than under straight-line depreciation

B. be a greater amount under straight-line depreciation than under doubledecliningbalance depreciation

C.be the same amount under all the depreciation methods

D.be a lesser amount under doubledecliningbalance depreciation than under unitsofproduction depreciation 3)On January 2, 2016, McNally's Extra Corporation acquired equipment for $120,000. The estimated life of the equipment is 5 years or 20,000 hours. The estimated residual value is $20,000. What is the balance in Accumulated Depreciation on December 31, 2017, if McNally's Extra Corporation uses the doubledecliningbalance method of depreciation? A.$43,200 B.$76,800 C.$23,200 D.$36,000

4) Rhoundakona Corporation bought property, plant, and equipment on January 1, 2014, at a cost of $35,000. Estimated residual value is $5,000 and the estimated useful life is 8 years. The company uses straightline depreciation. On January 1, 2017, Rhoundakona's management sells the asset for $25,000. The gain or loss on disposal is:

A.$10,000 loss B.$1,250 gain C.$1,250 loss D.$25,000 gain