Flagler Company purchased equipment that cost $90,000. The equipment had a useful life of 5 years and a $10,000 salvage value. Flagler uses the double-declining-balance method. Which of the following choices accurately reflects how the recognition of the first year's depreciation would affect the elements of the financial statements? Assets=Liab.+Stk.EquityRev.?Exp.=Net Inc.Stmt of Cash FlowsA.(32,000) NA (32,000)NA 32,000 (32,000)(32,000) OAB.(16,000) NA (16,000)NA 16,000 (16,000)NAC.(36,000) NA (36,000)NA 36,000 (36.000)(36,000) OAD.(36,000) NA (36,000)NA 36,000 (36,000)NA
A. Option A
B. Option B
C. Option C
D. Option D
Answer: D
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