Jing Company Was Started on January 1, Year 1 When

question 109

Multiple Choice

Jing Company was started on January 1, Year 1 when it issued common stock for $50,000 cash. Also, on January 1, Year 1 the company purchased office equipment that cost $34,000 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $2,000. The equipment had a five-year useful life and a $12,000 expected salvage value.At the end of Year 5, assuming the equipment had not been sold, the book value of the office equipment using straight-line depreciation and double-declining-balance depreciation, respectively, would be:

• A) $12,000 and $1,680.
• B) $12,000 and $12,000.
• C) $0 and $0.
• D) None of these answer choices are correct.

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Definitions:

Health Promotion

Health promotion involves strategies and practices aimed at enhancing the health and well-being of individuals and communities by encouraging healthy behaviors and lifestyles.

Physical Deconditioning

The loss of physical fitness or muscle strength due to inactivity or lack of exercise, often leading to decreased functionality and health.

Bedridden

A state in which a person is confined to bed due to illness or disability, significantly limiting their mobility.

Heart Disease

A range of conditions that affect the heart, including coronary artery disease, heart rhythm problems (arrhythmias), and congenital heart defects, among others.