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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Definitions:

Global Commodity Chain

A worldwide network of labor and production processes whose end result is a finished commodity.

Production Processes

The series of actions, methods, and operations involved in the manufacturing of goods, including the transformation of raw materials into finished products.

Finished Commodity

A product that has completed all stages of production and is ready for consumers to purchase.

Developing Societies

Countries or regions experiencing economic growth and undergoing transitions in social, economic, and political structures.