Question
Sonoma Company purchased equipment for $66,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,600.
Sonoma Company purchased equipment for $66,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,600. Using the double-declining-balance method, the book value at December 31, 2022, would be:
Multiple Choice
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$23,760.
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$13,200.
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$24,960.
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$22,860.
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Cornerstones of Managerial Accounting
Authors: Mowen, Hansen, Heitger
3rd Edition
324660138, 978-0324660135
