Colvin Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $100,000. The asset is expected to have a salvage value of $20,000 at the end of its five-year useful life. If the asset is depreciated on the double-declining-balance method, the asset's depreciation expense in Year 2 will be:
A. $54,000
B. $90,000
C. $36,000
D. $16,000
E. $42,000
Answer: C
Business
You might also like to view...
Stock dividends involve the issuance of additional shares of stock
a. True b. False Indicate whether the statement is true or false
Business
If Johnny strives for a “win–win” situation in conflict situations, his conflict management style is which of the following?
A. avoiding B. compromising C. competitive D. collaborative
Business
An agent is a party who ________
A) agrees to act on behalf of another B) employs another person to act on his or her behalf C) directs a worker under an express or implied contract of employment D) receives the services of another for remuneration
Business
A sale is the passage of title from the seller to the buyer for a price
Indicate whether the statement is true or false
Business