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What is depreciation expense for zooey catering

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Reference no: EM132781131

Zooey's Catering purchased a new commercial stove for $8,000 on August 1, 2019. The company uses the double-declining-balance method to depreciate its fixed assets. Partial-year depreciation is calculated based on the number of months the asset is in service. The estimated useful life of the stove is 5 years and the residual value is $2,000.

Problem 1: What is depreciation expense for 2019?

A. $3,200.
B. $1,600.
C. $ $1,333.
D. $2,400.
E. None of the answers are correct.

Reference no: EM132781131

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