Question
A company's December 31, 2018 balance sheet included the following asset: Equipment $40,000 Accumulated Depreciation, Equipment 16,000 The asset was purchased at the beginning of
A company's December 31, 2018 balance sheet included the following asset:
Equipment $40,000
Accumulated Depreciation, Equipment 16,000
The asset was purchased at the beginning of 2017 with no expected salvage value, and the company uses the straight line method to depreciate the equipment. If the company had used the double declining method, the equipment's book value at December 31, 2018 would be
| a. | $24,000. | |
| b. | $14,400. | |
| c. | $12,000. | |
| d. | $40,000. | |
| e. | none of the above |
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My Favorite Auditor Gave Me This Book
Authors: Funny Planner Publishing
1st Edition
1676058060, 978-1676058069
