Solution-What is the amount of depreciation expense for

What is the amount of depreciation expense for company l

Reference no: EM132795689

DEPRECIATION:

Problem 1: Company L purchased equipment for 150,000 on 1/1/2020. The equipment has a useful life of 5 years and a residual value of 30,000 and accumulated depreciation of 60000 at 12/31/20. Using the double declining balance method of depreciation, what is the amount of depreciation expense for 2021?

a. 36000

b. 30000

c. 18,000

d. 12000

e. None of the above

Reference no: EM132795689

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What is the amount of depreciation expense for company l

Reference no: EM132795689

Reference no: EM132795689

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