On January 1, 20x3, Teradene Corporation purchased equipment for $59,000. The equipment is expected to have a four-year life, with a residual value of $5,000 at the end of four years. Using the sum-of-the-years'-digits method of depreciation, what is the amount of 20x3 depreciation expense and the book value of this equipment at December 31, 20x3?: (Do not round intermediate calculations.) Multiple Choice O $21,600 and $37,400 respectively. O $21,600 and $32,400 respectively. $23,600 and $30,400 respectively. O $23,600 and $35,400 respectively.

On January 1, 20x3, Teradene Corporation purchased equipment for $59,000. The equipment is expected to have a four-year life, with a residual value of $5,000 at the end of four years. Using the sum-of-the-years'-digits method of depreciation, what is the amount of 20x3 depreciation expense and the book value of this equipment at December 31, 20x3?: (Do not round intermediate calculations.) Multiple Choice O $21,600 and $37,400 respectively. O $21,600 and $32,400 respectively. $23,600 and $30,400 respectively. O $23,600 and $35,400 respectively.

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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