ACCTSol85.pdf

# ACCTSol85.pdf - 57 Award 1.00 point On May 1 2015 Casico...

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57. Award: 1.00 point 58. Award: 1.00 point On May 1, 2015, Casico Toy Inc. purchased a new piece of equipment that cost \$52,000. The estimated useful life is five years and the estimated residual value is \$ 4,000. During the five years of useful life the equipment is expected to produce 20,000 units. If Casico Toy Inc. uses the straight line method of depreciation and sells the equipment for \$ 15,500 on May 1st, 2018. What will be the realized gain (loss)? \$ 3,700 \$ 25,200 \$ (3,700) \$9,700 None of the other alternatives are correct (9,700) = 15,500 - (54,000 - 6,400 - 9,600 - 9,600 - 3,200) On May 1, 2015, Casico Toy Inc. purchased a new piece of equipment that cost \$52,000. The estimated useful life is five years and the estimated residual value is \$ 4,000. During the five years of useful life the equipment is expected to produce 20,000 units. Assume that the equipment was purchased on January 1st, 2015. If the company uses the double declining balance method of depreciation, what is the depreciation expense for the year ended December 31st, 2018?

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