Which depreciation method was used, Accounting Basics

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Which depreciation method was used

A plant asset has a cost of $32,000 and a salvage value of $8,000. The asset has a three-year life. If depreciation in the third year amounted to $4,000, which depreciation method was used?

A) Declining-balance

B) Sum-of-the-years'-digits

C) Cannot tell from information given

D) Straight-line

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Accounting Basics: Which depreciation method was used

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Accounting Basics: Which depreciation method was used

Reference No:- TGS067315

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Recent Questions Asked Accounting Basics

Q : Amount of cash expected to be received from customers

Q : What amount be reported for patent amortization expense

Q : Paying what annual rate of interest

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Q : Which depreciation method was used

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Which depreciation method was used

Reference No:- TGS067315

Recent Questions Asked Accounting Basics

Q : Amount of cash expected to be received from customers

Q : What amount be reported for patent amortization expense

Q : Paying what annual rate of interest

Q : Record depreciation expense on machinery

Q : Which depreciation method was used

Q : Compute the gross levy required to raise revenue

Q : Compute equivalent units of production for conversion costs

Q : Compute the unit costs for materials and conversion costs

Q : What is the capitalized cost of the equipment

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