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storchak [24]
3 years ago
15

Cutter Enterprises purchased equipment for $54,000 on January 1, 2021. The equipment is expected to have a five-year life and a

residual value of $3,300. Using the double-declining-balance method, depreciation for 2021 and the book value at December 31, 2021, would be:
Business
1 answer:
ira [324]3 years ago
4 0

Answer:

the depreciation expense for the year 2021 and the book value for the year 2021  is $21,600 and $32,400 respectively

Explanation:

The computation of the depreciation expense for the year 2021 and the book value for the year 2021 under double-declining method is given below:

The depreciation expense is

= $54,000 × 1 ÷ 5 × 2

= $21,600

Now the book value is

= $54,000 - $21,600

= $32,400

hence, the depreciation expense for the year 2021 and the book value for the year 2021  is $21,600 and $32,400 respectively

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1 1.1 Briefly name and explain the aspects of the marking mix.​
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