Business, 05.05.2020 22:02 xeskimopie

Flagler Company purchased equipment that cost $90,000. The equipment had a useful life of 5 years and a $10,000 salvage value. Flagler uses the double-declining-balance method. Which of the following choices accurately reflects how the recognition of the first year's depreciation would affect the elements of the financial statements?

Assets = Liab. + Equity Rev. âˆ’ Expenses = Net Inc. Cash FlowA. (32,000 ) = NA + (32,000 ) NA âˆ’ 32,000 = (32,000 ) (32,000 ) OAB. (16,000 ) = NA + (16,000 ) NA âˆ’ 16,000 = (16,000 ) NA C. (36,000 ) = NA + (36,000 ) NA âˆ’ 36,000 = (36,000 ) (36,000 ) OAD. (36,000 ) = NA + (36,000 ) NA âˆ’ 36,000 = (36,000 ) NA

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Flagler Company purchased equipment that cost $90,000. The equipment had a useful life of 5 years an...

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