Archie Co. purchased a framing machine for $48,000 on January 1, 2021. The machine is...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Archie Co. purchased a framing machine for $48,000 on January 1, 2021. The machine is expected to have a four-year life, with a residual value of $3,000 at the end of four years. Using the double-declining-balance method, depreciation for 2022 and book value at December 31, 2022, would be:
a.) $12,000 and $12,000 respectively.
b.) $12,000 and $9,000 respectively.
c.) $11,250 and $36,750 respectively.
d.) $11,250 and $3,000 respectively.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.