Q1 A company purchased factory equipment for $150,000. It is estimated that the equipment will...
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Accounting
Q1 A company purchased factory equipment for $150,000. It is estimated that the equipment will have a $15,000 salvage value at the end of its 5-year useful life. If the company uses the DECLINING BALANCE method of depreciation, the amount of DEPRECIATION EXPENSE for the 1st YEAR after purchase would be:
$36,000
$60,000
$30,000
$54,000
Q2
The method most commonly used and appropriate method to compute DEPLETION of a coal mine is:
Units of activity
Declining Balance
Straight line
All of these methods are used
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