Multiple Choice
Use the following information for questions:
Maddie Co.purchased a machine on January 1, 2011 for $22,500.The machine had an estimated useful life of 10 years and an estimated residual value of $2,500.The company uses double-declining-balance amortization.
-If Maddie Co.used the straightline method of amortization what would the carrying value of the machine be at the end of 2011?
A) $20,500
B) $20,250
C) $18,250
D) $18,000
Correct Answer:
Verified
Correct Answer:
Verified
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