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Question

olTete Accouting X C Chegg.com ttps://k-state.instructure.com/courses/51070/quizzes/136014/take D Question 12 1 pts Which of the following statements is FALSE regarding the various depreciation methods? Double declining balance generates more depreciation expense in the earlier years of the asset's life O Units of production method generates depreciation expense that most closely matches how much the asset was actually used during the year. o With all the depreciation methods, the ending book value is cqual to salvage valu The amount of reported net income will not vary depending on which depreciation method is used D Question 13 1 pts Calculate the amount of depreciation expense to report during the year ended December 31 for equipment that was purchased at a cost of $43,000 on October 1. The equipment has an estimated residual value of $3.000 and a useful life of 5 years. The company uses straight-line depreciation $8,600 $2.000 $8,000 $2.150 D Question 14 1 pts

Explanation / Answer

Q12) Double decline balance method generate more depreciation in earlier years, unit of production method generate depreciation which is most closely to asset used and all depreciations method ending book value is salvage value these are true.

But the amount of reported net income will not vary depending on which depreciation method is used is false.

so answer is d) amount of reported net income will not vary depending on which depreciation method is used is false.

Q13) Depreciation expense = (43000-3000/5)*3/12 = 2000

so answer is b) $2,000

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