Foyle Company Purchased a New Van for Floral Deliveries on January

question 16

Multiple Choice

Foyle Company purchased a new van for floral deliveries on January 1, 2014. The van cost $48,000 with an estimated life of 5 years and $12,000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used. What is the depreciation expense for 2014?

• A) $9,600.
• B) $7,200.
• C) $14,400.
• D) $19,200.

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Definitions:

Cerebellum

A part of the brain at the back of the skull in vertebrates, crucial for coordination, precision, and accurate timing of movements.

Cerebrum

The largest part of the brain, responsible for voluntary actions, sensory perception, thought, reasoning, and memory.

Diencephalon

A division of the brain located between the cerebral hemispheres and brainstem, encompassing structures such as the thalamus and hypothalamus.

Midbrain

The middle portion of the brainstem that plays a role in vision, hearing, motor control, sleep/wake, arousal (alertness), and temperature regulation.