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It's a Multiple Choice Question: On July 1, 2019, Bronson Co. purchased some equipment that initially cost $52,800. Additional costs included freight costs $300, non-refundable
It's a Multiple Choice Question: On July 1, 2019, Bronson Co. purchased some equipment that initially cost $52,800. Additional costs included freight costs $300, non-refundable taxes $6,400, and installation $500. Estimated residual value is $2,000. The company uses a straight-line rate of 10%. Bronsons fiscal year end is June 30. What would the depreciation expense be for 2020 if Bronson Co. used the double-declining-balance method?
A) $12,200
B) $12,000
C) $11,600
D) $6,000
Please be sure to account for the six months in 2019 before 2020.
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