Question
On January 1, 2018, Firm ABC purchased equipment for $79,000. The equipment is expected to have 5-year useful life and a residual value of $2,000.
On January 1, 2018, Firm ABC purchased equipment for $79,000. The equipment is expected to have 5-year useful life and a residual value of $2,000.
Assuming Firm ABC has a December 31 year-end and uses the double-declining balance depreciation method, depreciation expense for the period January 1 to December 31, 2019 would be:
| a. | $ 18,960 | |
| b. | $ 18,480 | |
| c. | $ 18,000 | |
| d. | $ 17,520 |
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Horngrens Accounting Volume 1
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood
11th Canadian Edition
0135359708, 9780135359709
