Multiple Choice
Foyle Company purchased a new van for floral deliveries on January 1, 2013. The van cost $48,000 with an estimated life of 5 years and $12,000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used. What is the balance of the Accumulated Depreciation account at the end of 2014?
A) $7,680.
B) $23,040.
C) $30,720.
D) $11,520.
Correct Answer:
Verified
Correct Answer:
Verified
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