Question
On January 1, 2017, Atlantic Company purchased a new warehouse for $840,000 with a salvage value of $40,000 and an estimated useful life of 40
On January 1, 2017, Atlantic Company purchased a new warehouse for $840,000 with a salvage value of $40,000 and an estimated useful life of 40 years. Atlantic has chosen to use the double-declining balance method of depreciation. The journal entry to record the depreciation expense of 2018 would include:
Question 19 options:
| A. a debit to Depreciation Expense for $42,000. |
| B. a debit to Depreciation Expense for $39,900. |
| C. a credit to Accumulated Depreciation for $42,000. |
| D. a debit to Accumulated Depreciation for $39,900. |
| E. a credit to Accumulated Depreciation for $21,900. |
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