e Company purchased equipment that cost S27,500 cash. bected useful life of six vears and an estimated salvage value of 17.On Janua $2,000. Assuming that Racine amount of depreciation expense and the amount of accumulated d balance sheet would be: . On January 1, 2015, Racine Company pur e equipment had an expected usefulias idepreciates its assets under the straight-line method, the depreciates its as e appearing on the December 31, 2016 income statement appearing on depreciation appearing on the December 31, 2016 Accumulated A. B. C. D. E. Depreciation Expense $ 4,250 $ 4,250 S 4,250 $ 4,584 None of the above $ 12,750 S 4,250 S 8,500 $ 9.167 18. On January 1, 2015, Santa Fe truck had an expected useful li alone: had an exne 201, Santa Fe Company purchased a truck that cost S17,000. The A. The amount of depreci beted useful life of 5 years and a S2,000 salvage value. Based on this e depeciatestheount of depreciation expense recognized in 2018 would be greater if Santa ll Fe depreciates the asset method is used. under the straight-line method than if the double declining balance B. The gemoun ofdepreciation expense recognized over the five year useful life C. At the total will be greater u nder the d the double declinind of 2018, the amount in accumulated depreciation account will be used. he nder the double declining balance method than the straight-line method. end the double declining balance method is u of 2018, the amount in accumulated depreciation account will be less if sed than it would be if the straight-line method is D. Both A and C E. None of the above 19. Philips Corporation purchased a tru e truck 100,000 miles. truck is driven 36,000 miles in the curr miles. The truck had an estimated salvage value of S6,000. If the miles in the current accounting period, which of the following drive th he truck0ased a truck that cost $26,000. The company expected to d an estimated salwhich of the riven36 amounts should be recognized as be recognized as depreciation expense? E. None of the above C.$7,200D.S D. S7,640. A. $7,280. B. $7,360. B. $7,360 C. $7,200