Dorchester Company Purchased a New Van for Floral Deliveries on July

question 228

Multiple Choice

Dorchester Company purchased a new van for floral deliveries on July 1, 2014. The van cost $20,000 with an estimated life of 5 years and $5,000 residual value at the end of its useful life. The double diminishing-balance method of depreciation will be used.
-What is the depreciation expense for 2014?

• A) $4,000
• B) $3,000
• C) $6,000
• D) $8,000

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Definitions:

Tai Chi

A Chinese martial art and form of stylized, meditative exercise characterized by slow, flowing movements and deep breathing, aimed at physical and mental well-being.

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A therapeutic program that combines mindfulness meditation and yoga to improve mental and physical health.

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A psychological therapy designed to aid in preventing the relapse of depression, incorporating mindfulness practices with elements of cognitive-behavioral therapy.

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A herbal remedy commonly used for the treatment of mild to moderate depression, anxiety, and sleep disorders.