Cinder Construction, a calendar-year company, purchased equipment for $124,000 on January 3rd, 2022. The equipment’s expected useful life is seven years, and the expected salvage value of the equipment is $16,000. What is the book value of the equipment on December 31st, 2023, if Cinder uses the double-declining-balance method?

$‭63,250.12

Explanation:

Double Declining balance method depreciates at twice the rate that Straight line method does.

It also ignores the salvage value.

Straight line depreciation = 124,000/7 = $17,714

Rate = 17,714/124,000 = 14.29%

Double declining rate = 14.29 * 2 = 28.58%

Depreciation for 2022 = 124,000 * ( 1 - 28.58%) = $‭88,560.8‬0

Depreciation for 2023 = ‭88,560.8‬0 * (1 - 28.58%) = $‭63,250.12

answer is i don't know

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.