Question
On January 1, 2021, PANCHITAS CAF purchased equipment for $180,000. The equipment had an estimated useful life of ten years and an estimated residual value
On January 1, 2021, PANCHITAS CAF purchased equipment for $180,000. The equipment had an estimated useful life of ten years and an estimated residual value of $40,000. Using the double-declining-balance method, how much depreciation should PANCHITAS record on the asset in 2021?
a. $9,000
b. $18,000
c. $28,000
d. $36,000
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Foster George, Srikand M. Datar, Maureen P. Gowing
5th Canadian Edition
0135004934, 978-0135004937
