QUESTION 13 Which of the following depreciation methods allocate the same amount of depreciation to expense each year based on an the units-of-production method the straight-line method 1 the double-declining balance method the annuity method QUESTION 14 An asset was purchased for $40,000 on January 1, 2020 The asset's estimated useful life was five years, and its residual value was $10,000, The straight-line method of depreciation was used. Calculate the gain or loss if the asset is sold for $20,000 on December 31, 2021, the last day of the accounting period. $8,000 loss $8,000 gain no gain or no loss $4,000 loss QUESTION 13 Which of the following depreciation methods allocate the same amount of depreciation to expense each year based on an the units-of-production method the straight-line method 1 the double-declining balance method the annuity method QUESTION 14 An asset was purchased for $40,000 on January 1, 2020 The asset's estimated useful life was five years, and its residual value was $10,000, The straight-line method of depreciation was used. Calculate the gain or loss if the asset is sold for $20,000 on December 31, 2021, the last day of the accounting period. $8,000 loss $8,000 gain no gain or no loss $4,000 loss