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What the amortization expense for year ending december

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Reference no: EM132786826

Problem 1: An asset having a four-year service life and a salvage value of 5,000 was acquired for 45,000 cash on January 2 of Year One. The amortization expense for Year 2, ending December 31, will be

a. 5,000, under the straight-line method

b. 11,250, under the double declining-balance method

c. 11,250, under the straight-line method

d. 22,500, under the double declining-balance method

Problem 2: Asset amortization is calculated to the nearest

a. hour

b. day

c. week

d. month

Reference no: EM132786826

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