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Jing Company was started on January 1, Year 1 when it issued common stock for...

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Accounting

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Jing Company was started on January 1, Year 1 when it issued common stock for $33,000 cash. Also, on January 1, Year 1 the company purchased office equipment that cost $15,700 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $1,800. The equipment had expected salvage value. five-year useful life and a $6,200 Using double-declining-balance depreciation, what the amount of depreciation expense and the amount of accumulated depreciation, respectively, that would appear on the December 31, Year 3 financial statements? Multiple Choice $100 and $11,300 $5,472 and $14,592 $3.283 and $18,583 $0 and $15,300

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