ABC Company uses double declining balance deprecistion method. The compury purchused machinery on January 1.2020 at a total cost of$32000. The machinery was ectimated to have a senisual nitue of$4000and an estimated useful life of 8 years What is depreciation expense of the machinery for the year of 2021 ? Select one: a.$6,000b.$7,000c.$6,250d.$8,000

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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ABC Company uses double declining balance deprecistion method. The compury purchused machinery on January 1.2020 at a total cost of$32000. The machinery was ectimated to have a senisual nitue of$4000and an estimated useful life of 8 years What is depreciation expense of the machinery for the year of 2021 ? Select one: a.$6,000b.$7,000c.$6,250d.$8,000Clearmy choice
Accounting-
ABC Company uses double declining balance depreciation method. The company purchased machinery on
January 1, 2020 at a total cost of $32,000. The machinery was estimated to have a residual value of $4,000 and
an estimated useful life of 8 years
What is depreciation expense of the machinery for the year of 20217
Select one:
a $6,000
b.$7,000
c.$6,250
d.$8,000
Clear my choice
Transcribed Image Text:Accounting- ABC Company uses double declining balance depreciation method. The company purchased machinery on January 1, 2020 at a total cost of $32,000. The machinery was estimated to have a residual value of $4,000 and an estimated useful life of 8 years What is depreciation expense of the machinery for the year of 20217 Select one: a $6,000 b.$7,000 c.$6,250 d.$8,000 Clear my choice
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