![thebigman7993](/avatars/33615.jpg)
thebigman7993
25.12.2019 •
Business
On october 1, 2021, holt company places a new asset into service. the cost of the asset is $120,000 with an estimated 5-year life and $30,000 salvage value at the end of its useful life. what is the book value of the plant asset on the december 31, 2021, balance sheet assuming that holt company uses the double-declining-balance method of depreciation? a. $78,000 b. $90,000 c. $108,000 d. $114,000
Solved
Show answers
More tips
- B Business and Finance How to Open an Online Store? A Detailed Guide for Beginners...
- W Work and Career How to Write a Resume That Catches the Employer s Attention?...
- C Computers and Internet Е-head: How it Simplifies Life for Users?...
- F Family and Home How to Choose the Best Diapers for Your Baby?...
- F Family and Home Parquet or laminate, which is better?...
- L Leisure and Entertainment How to Properly Wind Fishing Line onto a Reel?...
- L Leisure and Entertainment How to Make a Paper Boat in Simple Steps...
- T Travel and tourism Maldives Adventures: What is the Best Season to Visit the Luxurious Beaches?...
- H Health and Medicine Kinesiology: What is it and How Does it Work?...
- O Other How to Choose the Best Answer to Your Question on The Grand Question ?...
Answers on questions: Business
- B Business Credit bureaus are required to block information identified as being stolen by identity theft. True False...
- B Business Which statement is true? a. a diverse workplace can cause people to become prejudiced. b. cultural barriers can pose a challenge to creating a diverse workplace....
- B Business If a salesperson sells 34 pairs of jeans, 126 t-shirts, and 40 jackets, what fraction of the total number of items sold do the jackets represent? Reduce the fraction....
- H Health Is there such a thing as a ocd attack, like a panic attack but for ocd? Because my ocd went off when I was doinng my math homework and I couldn’t stop erasing and...
- E English EASY POINTS! Rewrite the following paragraph please :) paragraph in picture above!...
- L Law What education form will I need for a English major?...
- S Social Studies Do you think right and duties are interconnected? How? explain with an example...
- M Mathematics Stare the property used in each case 13×11=11×13...
- E English 30 POINTS! Rewrite the following paragraph for me! REAL ANSWERS ONLY! Will report time wasters and point stealers. Just rewrite the paragraph shown in the image...
- H History 2. What European countries still own territory in Latin America?...
Ответ:
$9,000
Explanation:
Date of purchase = October 1, 2021
Cost of assets = $120,000
Salvage value = $30,000
Useful life = 5 years
Annual depreciation using straight line method
= ($120,000 - $30,000)/5
= $90,000/5
= $18,000
Annual depreciation using the double declining method
= 2 × $18,000
= $36,000
For 2021, the asset was used between October and December
Depreciation to be recognized = (3/12) × $36,000
= $9,000
The right answer is not given as a part of the options.
Ответ: