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Jump to Navigation Frame Your location: Home Page Quizzes Chapter 11 Quiz Assessments View All Submissions View Attempt View Attempt 1 of 1 Title: Chapter 11 Quiz Started: October 28, 2009 7:50 PM Submitted: October 28, 2009 8:53 PM Time spent: 01:02:14 Total score: 20/100 = 20% Total score adjusted by 0.0 Maximum possible score: 100 1. Dunston Company purchased equipment for $150,000 on July 1, 20x1. The estimated life was 10 years, and the salvage value was estimated at $4,000. Dunston uses the double-declining balance method. What is the depreciation expense for the year ending December 31, 20x2? Student Response Value Correct Answer Feedback 1. $30,000. 0% 2. $27,000. 3. $26,280. 4. $24,000. General Feedback: X1 depr exp = 150,000 *2/10 * 6/12 = 15,000 X2 depr exp = (150,000-15,000) * 2/10 = 27,000 Score: 0/10 2.
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On October 1, 1998, Sun Co. purchased machinery for $190,000. Salvage value was estimated to be $10,000. The machinery will be depreciated over eight years using the sum-of-the-years'-digits method. Sun should record depreciation expense for the year ending December 31, 1999 of Student Response Value Correct Answer Feedback 1. $40,903. 0% 2. $38,845. 3. $38,750. 4. $35,000. General Feedback: SYD =( 8*9)/2 =36 Yr 1 dep exp = 180,000 * 8/36 = 40,000 Yr 2 dep exp = 180,000 * 7/36 = 35,000 1999 dep exp = 40,000 * 9/12 + 35,000 * 3/12 = 38,750 Score: 0/10 3.
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