Compatibility Services Acquired an $80,000 Machine on January 1,20X3

question 119

Multiple Choice

Compatibility Services acquired an $80,000 machine on January 1,20X3.The machine is estimated to have a useful life of 8 years,and a residual value of $4,000.For units-of-production depreciation purposes,the machine is expected to produce 400,000 units.What is the balance in the accumulated depreciation account on December 31,20X4,if Compatibility Services uses double-declining-balance depreciation?

• A)$40,000
• B)$35,000
• C)$18,750
• D)$37,500
• E)$32,000

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