Multiple Choice
A piece of equipment was acquired on January 1,2009,at a cost of $22,000,with an estimated residual value of $2,000 and an estimated useful life of four years.The company uses the double-declining-balance method.What is its book value at December 31,2010?
A) $5,500
B) $10,000
C) $11,000
D) $12,000
Correct Answer:
Verified
Correct Answer:
Verified
Q14: The Gulp convenience store chain buys new
Q82: Intangibles with unlimited or indefinite lives (trademarks
Q83: ,the company sold the vehicle for $6,000
Q84: A trucking company sold its fleet of
Q84: The intangible asset most frequently reported by
Q85: The useful life of an asset is
Q87: Expenditures on self-created intangible assets are accounted
Q88: Paul Hauling has a fleet of 10
Q89: Intangible assets are not adjusted for asset
Q90: What would be the amount of amortization