Flagler Company purchased equipment that cost $90,000.The equipment had a useful life of 5 years and a $10,000 salvage value.Flagler used the double-declining-balance method to depreciate its assets.Which of the following choices accurately reflects how the recognition of the first year's depreciation would affect the company's financial statements?

Question

Flagler Company purchased equipment that cost $90,000.The equipment had a useful life of 5 years and a $10,000 salvage value.Flagler used the double-declining-balance method to depreciate its assets.Which of the following choices accurately reflects how the recognition of the first year's depreciation would affect the company's financial statements?
Flagler Company purchased equipment that cost $90,000.The equipment had a useful life of 5 years and a $10,000 salvage value.Flagler used the double-declining-balance method to depreciate its assets.Which of the following choices accurately reflects how the recognition of the first year's depreciation would affect the company's financial statements?

Quizplus · Accepted Answer

The Answer of Flagler Company purchased equipment that cost $90,000.The equipment had a useful life of 5 years and a $10,000 salvage value.Flagler used the double-declining-balance method to depreciate its assets.Which of the following choices accurately reflects how the recognition of the first year's depreciation would affect the company's financial statements?

Flagler Company Purchased Equipment That Cost $90,000