Question
A company purchased a machine that was installed and commissioned on 1 January 2000 at a cost of $120,000. The residual value of this machine
A company purchased a machine that was installed and commissioned on 1 January 2000
at a cost of $120,000. The residual value of this machine was estimated at $20,000. The company depreciates the machine at a rate of 20% using the declining balance method.
What should be the depreciation charge for 2001?
A.10800
B.16000
C.19200
D.24000
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CLEP Financial Accounting Study Guide
Authors: Passyourclass
1st Edition
1614330115, 978-1614330110
