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Financial Accounting

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Balance Sheet PPE DDB

FINACT-X4JE2U

Spirit Corporation purchased a piece of equipment to be used in its operations for \$230,000 on August 1, 2017 with an estimated salvage value of \$20,000 and a 4-year useful life. Spirit records partial-year depreciation on equipment and uses the double-declining-balance method.

What is the amount of net equipment as presented on the balance sheet at the end of 2018?

A

\$91,042

B

\$71,042

C

\$182,083

D

\$138,958