James company places a new asset into service on October 1, 2019. The cost of the asset

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James company places a new asset into service on October 1, 2019. The cost of the asset is $ 120.000 whit an estimated 5-year life and $ 30.000

salvage value at the end of its useful life. What is the book value of the plant asset on December 31, 2019, balance sheet assuming that James Company uses the double-declining balance method of depreciation?

A) $ 90.000

B) $ 114.000

C) $ 108.000

D) $ 78.000

Posted Date: Jun 19, 2024 11:25 PM

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James company places a new asset into service on October 1, 2019. The cost of the asset

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