Question
DEPRECIATION: Company L purchased equipment for 150,000 on 1/1/2020. The equipment has a useful life of 5 years and a residual value of 30,000 and
DEPRECIATION: Company L purchased equipment for 150,000 on 1/1/2020. The equipment has a useful life of 5 years and a residual value of 30,000 and accumulated depreciation of 60000 at 12/31/20. . Using the double declining balance method of depreciation, what is the amount of depreciation expense for 2021?
a. 36000
b. 30000
c. 18,000
d. 12000
e. None of the above
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Advances In Accounting Volume 23
Authors: Philip M J Reckers
1st Edition
0762314257, 9780762314256
