On January 1, year 1, Mark Corp. purchases equipment for $300,000. The equipment has a 10-year life and a $50,000 residual value. Mark uses the double-declining-balance method of depreciation. What is depreciation expense for year 1?

$60,000

Explanation:

Given:

Purchase Price = $300,000

Estimated Life = 10 Year

Residual Value = $50,000

Method = Double-Declining-balance

Computation:

Rate of Depreciation = [(Price - Residual value) / Estimated year] / (Price - Residual value)

= [($300,000 - $50,000) / 10] / ($300,000 - $50,000)

= $25,000 / $250,000

= 0.1 or 10%

Under Double-Declining-balance rate = 10% x 2 = 20%

Depreciation = Purchase price x deprecation rate

                      = $300,000 x 20%

                      = $60,000

the answer is account d

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.