i need the answer only A vehicle was purchased on January 1,2019 for $12,000...

90.2K

Verified Solution

Question

Accounting

image

i need the answer only

A vehicle was purchased on January 1,2019 for $12,000 and has no residual value. The company uses the double declining balance method. Estimated useful life is 4 years. The company records depreciation expense at the end of each year. The company decides to sell the vehicle on December 31, 2019. How much should the vehicle be sold for in order to make a gain of $1,000

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students