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Use the following the answer questions 41-42: On October 1st,2016, Dole Company places...

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Accounting

Use the following the answer questions 41-42:
On October 1st,2016, Dole Company places a new asset into service. The cost of the asset is $60,000 with an estimated 5-years life and $15,000 salvage value at the end of its useful life.
41. What is the depreciation expense for 2016 if Dole Company use the straight-line method of depreciation?
A) $2,250
B) $12,000
C) $3,000
D) $6,000
42. What is the book value of the plant asset on the December 31st,2016, balance sheet assuming that Dole Company uses the double-declining-balance method of depreciation?
A) $39,000
B) $45,000
C) $54,000
D) $57,000
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