On August 1, 2019 X company purchased furniture at $13,000. The salvage value is $1,000 and the useful life is 5 years. X uses the sum of the years digits method. The depreciation expense for 2019 is ------.

Select one:

a. $2,000.

b. $1,000.

c. $1,667.

d. $833.

Clear my choice

On July 1, 2006, X Corporation purchased factory equipment for $150,000. Salvage value $4,000. The equipment will be depreciated over ten years using the double-declining balance method. X should record depreciation expense for 2007 on this equipment of-----.

Select one:

a. $30,000.

b. $24,000.

c. $27,000.

d. $26,280.

Clear my choice