Question
On January 1, Year 1 XYZ Company paid $88,000 cash to purchase a truck. The truck has a $4,000 salvage value and a 4 year
On January 1, Year 1 XYZ Company paid $88,000 cash to purchase a truck. The truck has a $4,000 salvage value and a 4 year useful life. XYZ uses double declining balance depreciation. How much depreciation expense would XYZ report on its Year 2 income statement?
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$21,000
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$22,000
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$16,000
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$44,000
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Sound Investing, Chapter 21 - Cash From Operations Cons
Authors: Kate Mooney
1st Edition
0071719431, 9780071719438
