On January 1, 2017, Leopard Corp

question 43

Multiple Choice

On January 1, 2017, Leopard Corp.purchased a new machine for $700,000.The new machine has an estimated useful life of nine years and the residual value was estimated to be $50,000.Depreciation was calculated using the double declining-balance method.To the nearest dollar, what amount should be shown in Leopard's balance sheet at December 31, 2018, net of accumulated depreciation, for this machine?

• A)$550,000
• B)$445,000
• C)$427,778
• D)$423,457

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