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On August 1, 2019 X company purchased furniture at $13,000. The salvage value is $1,000 and...

On August 1, 2019 X company purchased furniture at $13,000. The salvage value is $1,000 and the useful life is 5 years. X uses the sum of the year’s digits method. The depreciation expense for 2019 is ------.
Select one:
a. $2,000.
b. $1,000.
c. $1,667.
d. $833.
Clear my choice


On July 1, 2006, X Corporation purchased factory equipment for $150,000. Salvage value $4,000. The equipment will be depreciated over ten years using the double-declining balance method. X should record depreciation expense for 2007 on this equipment of-----.
Select one:
a. $30,000.
b. $24,000.
c. $27,000.
d. $26,280.
Clear my choice
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