Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. use the following the answer questions 41-42: on

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

60.1K

Verified Solution

Question

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
image

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Describe the process of protein synthesis in prokaryotic cells. Begin with a gene in the DNA and...

Biology
Q

write a critical review on this paper \"THE INFLUENCE OF ARCHITECTURE IN ENGINEERING SYSTEMS\" Engineering System Monograph ENGINEERING...

Physics
Q

Which of the following can form a pyrimidine dimerA DNA sequence with a guanine followed...

Biology
Q

lighter nuclei Let 8 MN Mp Mo where Mp Mo and My are the masses...

Physics
Q

The graph of y f x has f 5 might be a graph of y...

Calculus
Q

Evaluate the expression without using a calculator cos 30 sin 30

Calculus
Q

Find the arclength of y 3x 2 on 2 x 3 16 15 14 13...

Calculus
Q

Find the measure of angle A 9 x 71 80 x 51 A

Algebra
Q

Directions: Find the first five terms of each sequence.7) an = -2(n-7)8) an = (1/2)^(n+3)9)...

Algebra
Q

1:107

Accounting
Q

Production 54,000 units 60,000 units Machine-hours 985 hours 1,800 hours Fixed overhead costs for September...

Accounting
Q

Passion Products Corporation, which sells a broad line of home detergent products, owns 80 percent...

Accounting