Question
A piece of equipment was acquired on January 1 at a cost of $33,000, with an estimated residual value of $3,000 and an estimated useful
A piece of equipment was acquired on January 1 at a cost of $33,000, with an estimated residual value of $3,000 and an estimated useful life of four years. The company uses the double-declining-balance method. What is its book value at the end of year 2?
| $8,250. | ||
| $15,000. | ||
| $16,500. | ||
| $24,750. |
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Financial Accounting And Reporting
Authors: Mr Barry Elliott, Jamie Elliott
10th Edition
0273703641, 978-0273703648
