On january 1 2014 rubens company made a basket purchase


Question: On January 1, 2014, Rubens Company made a basket purchase including land, a building and equipment for $430,000. The appraised values of the assets are $22,500 for the land, $382,500 for the building and $45,000 for equipment. Rubens uses the double declining balance method of depreciation for the equipment which is estimated to have a useful life of five years and a salvage value of $7,500. For 2014, the depreciation expense on the equipment is: (Do not round intermediate calculations.)

$17,200

$8,600

$15,000

$13,500

Solution Preview :

Prepared by a verified Expert
Accounting Basics: On january 1 2014 rubens company made a basket purchase
Reference No:- TGS02555028

Now Priced at $15 (50% Discount)

Recommended (96%)

Rated (4.8/5)