Thomas Enterprises purchased a depreciable asset on October 1. Year 1 at a cost of $100,000....

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Answer 1

Answer #1

5) Double decline rate = 100/5*2 = 40%

Book value at the end of year 3 = 100000-67600 = 32400

So answer is c) $32400

6) Depreciation expense per year = (22500-2100/4) = 5100

Accumulated depreciation = 5100*3+(5100*10/12) = 19550

So answer is a) $19550

Answer 2

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