Question
A piece of equipment was acquired on January 1, 2015, at a cost of $28,000, with an estimated residual value of $4,000 and an estimated
A piece of equipment was acquired on January 1, 2015, at a cost of $28,000, with an estimated residual value of $4,000 and an estimated useful life of Four years. The company uses the double-declining-balance method. What is its book value at December 31, 2016?
A.$12,000
B.$7,000
C. $16,000
D. $14,000
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Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
