Multiple Choice
Use the following information for questions below
Ponderosa Farms purchased some equipment on January 1,2020 for $12,600.The equipment has an estimated useful life of 10 years and an estimated residual value of $1,200.The company uses double-declining-balance depreciation.
-Depreciation expense for 2020 would be
A) $1,140.
B) $1,260.
C) $2,280.
D) $2,520.
Correct Answer:

Verified
Correct Answer:
Verified
Q68: The carrying amount of goodwill is<br>A)not relevant,because
Q69: Assets that produce their greatest benefits to
Q70: Which of the following amortization methods ignore
Q71: Depreciation is a cost allocation method and
Q72: Barium Corp.purchased a piece of equipment on
Q73: Long-term capital assets with a(n)_ may <b>not</b>
Q74: Residual value directly enters into the calculation
Q75: Goodwill<br>A)is the net value of the purchase
Q76: Under ASPE,property,plant,and equipment must be recognized using
Q78: Which of the following is an example