C is corrent. The depreciation expense in year 2 using the double-declining balance method is $16,000 (1/10 × 2 × $80,000). The double-declining balance method is calculated as (1/Useful life of the asset × 2 × Book value of the asset). In year 1, depreciation expense using the double-declining balance method is $20,000 (1/10 × 2 × $100,000). In year 2, the book value is $80,000.
A is incorrect. The depreciation expense in year 2 using the double-declining balance method is $16,000 (1/10 × 2 × $80,000). The double-declining balance method is calculated as (1/Useful life of the asset × 2 × Book value of the asset). In year 1, depreciation expense using the double-declining balance method is $20,000 (1/10 × 2 × $100,000). In year 2, the book value is $80,000.
A is incorrect. The depreciation expense in year 2 using the double-declining balance method is $16,000 (1/10 × 2 × $80,000). The double-declining balance method is calculated as (1/Useful life of the asset × 2 × Book value of the asset). In year 1, depreciation expense using the double-declining balance method is $20,000 (1/10 × 2 × $100,000). In year 2, the book value is $80,000.
D is incorrect. The depreciation expense in year 2 using the double-declining balance method is $16,000 (1/10 × 2 × $80,000). The double-declining balance method is calculated as (1/Useful life of the asset × 2 × Book value of the asset). In year 1, depreciation expense using the double-declining balance method is $20,000 (1/10 × 2 × $100,000). In year 2, the book value is $80,000.
