On January 1,2012,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 2012,the depreciation expense on the equipment is:

Question

Quizplus · Accepted Answer

The Answer of On January 1,2012,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 2012,the depreciation expense on the equipment is:

On January 1,2012,Rubens Company Made a Basket Purchase Including Land,a