Cutter Enterprises purchased equipment for 60,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $3,900. Using the double-declining-balance method, the book value at December 31, 2022, would be:. a. $15,500.
b. $15,980.
c. $18,380.
d. $27,900.

$21,600

Explanation:

The expected life of the equipment is 5 years

Double-declining-balance rate = (1/5) *2 = 40%

Depreciation for 2021 = $60,000*40% = $24,000

Book Value at Dec 31, 2021 = $60,000 - $24,000

Book Value at Dec 31, 2021 = $36,000

Depreciation for 2022 = $36,000*40% = $14,400

Book Value at Dec 31, 2021 = $36,000 - $14,400

Book Value at Dec 31, 2021 = $21,600

Using the double-declining-balance method, the book value at December 31, 2022, would be $21,600.

years agooo ahaha. but honestly they need to update ! : )

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number