If an Asset Costs $70,000,has a Residual Value of $6,000,and

question 11

Multiple Choice

If an asset costs $70,000,has a residual value of $6,000,and has a useful life of five years,the entry to record depreciation in the second year,using the double-declining-balance method,is:

• A) Depreciation Expense - Asset 16,100
• Cash 16,100
• B) Depreciation Expense - Asset 16,800
• Accumulated Depreciation - Asset 16,800
• C) Depreciation Expense - Asset 17,500
• Accumulated Depreciation - Asset 17,500
• D) Accumulated Depreciation - Asset 18,200
• Depreciation Expense - Asset 18,200

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