Equipment Is Purchased for $120,000

question 84

Multiple Choice

Equipment is purchased for $120,000.It has a five-year useful life and a $20,000 residual value.Under the double-declining-balance method,what is the depreciation expense for year 3?

• A) $17,280
• B) $15,360
• C) $14,400
• D) $12,800

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Definitions:

Special Journals

Accounting journals designed for recording a specific type of transaction in a more efficient manner, such as sales or purchases journals.