Multiple Choice
On January 1, 2014, Rubens Company made a basket purchase including land, a building and equipment for $380,000. The appraised values of the assets are $20,000 for the land, $340,000 for the building and $40,000 for equipment. Rubens uses the double declining balance method of depreciation for the equipment which is estimated to have a useful life of five years and a salvage value of $5,000. For 2014, the depreciation expense on the equipment is:
A) $7,600
B) $13,200
C) $9,120
D) $15,200
Correct Answer:
Verified
Correct Answer:
Verified
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