Question
On October 1, 2021, Coronado Company places a new asset into service. The cost of the asset is $116000 with an estimated 5-year life and
On October 1, 2021, Coronado Company places a new asset into service. The cost of the asset is $116000 with an estimated 5-year life and $13200 salvage value at the end of its useful life. What is the book value of the plant asset on the December 31, 2021, balance sheet assuming that Coronado Company uses the double-declining-balance method of depreciation?
A. $10208
B. $94192
C. $104400
D. $34672
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
6th Edition
978-0470477144, 1118096894, 9781118214657, 470477148, 111821465X, 978-1118096895
