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Item 14

Item 14

Time Remaining 1 hour 46 minutes 52 seconds

01:46:52

Cutter Enterprises purchased equipment for $54,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $8,400. Using the double-declining-balance method, depreciation for 2021 and the book value at December 31, 2021, would be:

Multiple Choice

• $18,240 and $30,360 respectively.

• $21,600 and $24,000 respectively.

• $18,240 and $35,760 respectively.

• $21,600 and $32,400 respectively.