On October 1, 2021, Holt Company Places a New Asset

question 158

Multiple Choice

On October 1, 2021, Holt Company places a new asset into service.The cost of the asset is $120,000 with an estimated 5-year life and $30,000 salvage value at the end of its useful life.What is the book value of the plant asset on the December 31, 2021, balance sheet assuming that Holt Company uses the double-declining-balance method of depreciation?

• A)$78,000
• B)$90,000
• C)$108,000
• D)$114,000

---

Definitions:

Engorged Genitals

An increase in blood flow leading to the swelling of genital tissues, often associated with sexual arousal.

Sunday Stroll

A leisurely, casual walk taken on Sundays, often for relaxation and enjoyment.

Exploration

The act of searching, investigating, or traveling through an unfamiliar area in order to learn about it, often involving the discovery of new information.

Manipulation

The act of controlling or influencing others in a clever or unscrupulous way, often without their awareness or consent.