J.Long purchased computer equipment for $5,000 on January 1,200x.It has a residual value of $500 with a useful life of 5 years.After the appropriate adjusting entries are made,the book value of the asset on December 31,200x,under the double-declining-balance method,is:
A) $4,000.
B) $3,200.
C) $3,000.
D) $4,100.
Correct Answer:
Verified
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