[The Following Information Applies to the Questions Displayed Below

question 81

Multiple Choice

[The following information applies to the questions displayed below.]

On January 1, Year 1, Jing 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.


-Assuming the company uses the double-declining-balance depreciation method,what are the amounts of depreciation expense and accumulated depreciation,respectively,that would be reported in the financial statements prepared as of December 31,Year 3?

• A)$0 and $24,000
• B)$960 and $12,000
• C)$8,640 and $23,040
• D)$5,184 and $28,224

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Definitions:

Double-Blind Encryption

An encryption methodology where neither the executing parties nor the end users can see or access the unencrypted data, enhancing privacy and security.

Offline Purchase Activity

Transactions for buying goods or services that happen outside the digital environment, often in physical stores or via traditional methods.

Machine Learning Systems

The ability of information systems to accurately perform new, unseen tasks, built on known properties learned from training or historical data that are labeled.

Biometric Data

Unique physical or behavioral characteristics of individuals that can be used for digital identification and access control.