Pharoah Chemicals Company acquires a delivery truck at a cost of $35,000 on January 1, 2022. The truck is expected to have a salvage value of $2,900 at the end of its 5-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method.

$14,000

Year 2 = $8400

Explanation:

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life)

Depreciation expense in year 1 = 2/5 x $35,000 = $14,000

Book value at the beginning of year 2 = $35,000 - $14,000 = $21,000

Depreciation expense in year 2 = 2/5 x $21,000 = $8400

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hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi