Test: Test 2 Chapters 4-7 Falling Leaves Lawn Care 4. This company purchased new

Question

Test: Test 2 Chapters 4-7 Falling Leaves Lawn Care 4. This company purchased new excavatin ng equipment at the beginning of 2013. The equipment has a cost of $37,0oo, an estimated life of 5 years, and an estimated residual value of $7,000 A fall year's depreciation expense is to be recorded in 2013. The equipment was used 2o,o0o hours during zo12 and 24.000 hours during 2013. The umber of expected hours over 5 years is 1o0,o00. Refer to Falling Leaves Lawn Care. By what amount would double-declining-balance depreciation exceed straight-line depreciation over the 5-year life of the . O Ob. The salvage value of $7,000 O c. Total depreciation expenses under O d. Cost plus total depreciation and straight-line depreciation are equal 12. O 13. O 14 O 0 ^11:14 PM Type here to search F3 F4 FS F6 F10

Explanation / Answer

Total depreciation expenses under double-declining balance and straight-line epreciation are equal. Option C is correct

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