Colvin Enterprises Purchased a Depreciable Asset on October 1,Year 1

question 47

Multiple Choice

Colvin Enterprises purchased a depreciable asset on October 1,Year 1 at a cost of $100,000.The asset is expected to have a salvage value of $20,000 at the end of its five-year useful life.If the asset is depreciated on the double-declining-balance method,the asset's depreciation expense in Year 2 will be:

• A)$36,000
• B)$42,000
• C)$54,000
• D)$16,000
• E)$90,000

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Definitions:

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The condition of having a developing embryo or fetus in the body, after conception until birth.

Moderate Malnutrition

A nutritional deficiency state that is not as severe as acute malnutrition but still involves inadequate intake of essential nutrients.

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A continent located in the northern hemisphere and almost entirely within the western hemisphere, comprising countries like the United States, Canada, and Mexico.

Moderate Malnutrition

A condition of receiving less than the necessary amount of nutrition, but not severe enough to cause immediate life-threatening health problems.