8. Long Lived Assets
Depreciation: Declining Balance
Multiple Choice
Multiple ChoiceABC Company purchased a new machine on January 1, Year 1 for $44,000. The company expects the machine to last ten years. The company thinks it could sell the scrap metal from the machine for $4,000 at the end of its useful life. If the company uses the double-declining method for depreciation, what will be the net book value of the machine on December 31, Year 2?
A
$25,600
B
$26,400
C
$28,000
D
$28,160
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