Refer to the information for Cox Inc above What amount
Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense at December 31, 2012, if the double-declining-balance method were used?
a. $144,000
b. $145,600
c. $236,000
d. $240,000
Cox Inc. acquired a machine for $600,000 on January 1, 2011. The machine has a salvage value of $10,000 and a five-year useful life. Cox expects the machine to run for 15,000 machine hours. The machine was actually used for 4,800 hours in 2011 and 3,150 hours in 2012.
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
Relevant Tutors available to help