At the end of Year 5,the equipment was still owned by Jing Company.What is the book value of the office equipment using the straight-line method and double-declining-balance method,respectively?
A)$12,000 and $1,680.
B)$12,000 and $12,000.
C)$0 and $0.
D)None of these answer choices are correct.

Question

Quizplus · Accepted Answer

At the end of Year 5,the end of the office equipment's 5-year useful life,the book value will be equal to the $12,000 salvage value,regardless of which depreciation method is used.

At the End of Year 5,the Equipment Was Still Owned