Question
Cutter Enterprises purchased equipment for $54,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $3,900.
| Cutter Enterprises purchased equipment for $54,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $3,900. |
| Using the double-declining balance method, depreciation for 2017 would be: |
Multiple Choice
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$21,600.
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None of these answer choices are correct.
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$12,024.
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$12,960.
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Financial Accounting
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
7th Edition
1118725786, 978-1118725788
