Use the Following Information for Questions Below

question 7

Multiple Choice

Use the following information for questions below
On July 1,2019,Bronson Co.purchased some equipment that initially cost $52,800.Additional costs included freight costs $300,non-refundable taxes $6,400,and installation $500.Estimated residual value is $2,000.The company uses a straight-line rate of 10%.Bronson's fiscal year end is June 30.
-What would the depreciation expense be for 2020 if Bronson Co.used the double-declining-balance method?

• A)$12,200
• B)$12,000
• C)$11,600
• D)$ 6,000

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Definitions:

Genetic Engineering

The direct manipulation of an organism's genes using biotechnology to alter its characteristics, often for purposes like improving health, enhancing resistance to diseases, or modifying physical traits.

New Life Forms

Organisms that have recently been discovered, created, or significantly altered through processes such as genetic engineering.

Permanent Settlements

Communities where people establish long-term residences, marking a shift from nomadic lifestyles to settled agriculture and urban development.

Crystallization

In the social sciences, it refers to the process by which vague opinions or beliefs become solidified into clear and distinct ideas or ideologies.