Theresa Enterprises made an online purchase of furniture for the office of its new sales manager in September. It arrived on September 30. The furniture cost $5,000. Sales tax was assessed at 10%. Theresa paid $200 to have the furniture assembled. Installation was completed on October 15. The furniture is expected to last for five years with a salvage value of $450. The new sales manager started working on November 1. Theresa uses the double-declining method of depreciation. What was accumulated depreciation on the furniture as of December 31?

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SOLUTION The cost of the furniture is 5000 and the sales tax is 10 so the total co... View the full answer