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Bramble Company purchased equipment for $1071000 on January 1, 2020, and will use the double-declining-balance method of depreciation. It is estimated that the equipment will have a 3-year life and a $32000 salvage value at the end of its useful life. The amount of depreciation expense recognized in the year 2022 will be O $95880. $127880. $87000. O $119000.

Bramble Company purchased equipment for $1071000 on January 1, 2020, and will use the double-declining-balance method of depreciation. It is estimated that the equipment will have a 3-year life and a $32000 salvage value at the end of its useful life. The amount of depreciation expense recognized in the year 2022 will be O $95880. $127880. $87000. O $119000.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Bramble Company purchased equipment for $1071000 on January 1, 2020, and will use the double-declining-balance method of depreciation. It is estimated that the equipment will have a 3-year life and a $32000 salvage value at the end of its useful life. The amount of depreciation expense recognized in the year 2022 will be $95880. O $127880. $87000. O $119000.
Transcribed Image Text:Bramble Company purchased equipment for $1071000 on January 1, 2020, and will use the double-declining-balance method of depreciation. It is estimated that the equipment will have a 3-year life and a $32000 salvage value at the end of its useful life. The amount of depreciation expense recognized in the year 2022 will be $95880. O $127880. $87000. O $119000.
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