Question
Fantasy Cruise Lines On January 1, 2012, the company purchased a ship for $1,000,000. It has a ten-year useful life and a residual value of
Fantasy Cruise Lines On January 1, 2012, the company purchased a ship for $1,000,000. It has a ten-year useful life and a residual value of $100,000. The company uses the double-declining-balance method. Refer to Fantasy Cruise Lines. What will be the book value of the ship after ten years?
| $200,000 | ||
| $400,000 | ||
| $ 0 | ||
| $100,000 |
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Accounting And Financial Management For Residential Construction
Authors: Emma Shinn
6th Edition
0867187816, 9780867187816
