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What amount would company report as accumulated depreciation

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Reference no: EM132493080

Question 1: Company B acquired computer equipment on November 1, 2018 at a cost of $60,000. The equipment has a useful life of 4 years, and an estimated residual value of $4,000. Using the diminishing balance method, at double the straight-line rate, what amount would the company report as accumulated depreciation on their financial statements for December 31, 2019?

Option 1: $24,800

Option 2: $32,500

Option 3: $30,333

Option 4: $45,000

Reference no: EM132493080

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