JLong Purchased Computer Equipment for $7,000 on January 1,2015

question 16

Multiple Choice

J.Long purchased computer equipment for $7,000 on January 1,2015.It has a residual value of $700 with a useful life of 5 years.After the appropriate adjusting entry is made,the book value of the asset on December 31,2015,under the double declining-balance method,is:

• A)$4,000.
• B)$4,200.
• C)$3,000.
• D)$4,100.

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