The double-declining-balance depreciation method calculates depreciation each year by taking twice the straight-line rate times the book value of the asset at the beginning of each year. a. True b. False A disadvantage of partnerships is the mutual agency of all partners. a. True b. False The difference between the balance in a fixed asset account and its related accumulated depreciation account is the asset's book value. a. True b. False Indicate the answer choice that best completes the statement or answers the question. As part of the initial investment, Ray Blake contributes equipment that had originally cost $125,000 and on which accumulated depreciation of $100,000 has been recorded. If similar equipment would cost $150,000 to replace and the partners agree on a valuation of $29,000 for the contributed equipment, what amount should be debited to the equipment account? a. $29,000 b. $150,000 c. $125,000 d. $100,000