On 31 December 2013, a New Machine with a Useful

question 52

Multiple Choice

On 31 December 2013, a new machine with a useful life of 6 years and an estimated residual value of zero was purchased by a business at a cost of $30,000. The amount of depreciation expense charged for the year ended 31st December 2015, using the reducing balance method at a rate of 30% per annum, is:

• A) $6,300
• B) $9,000
• C) $5,000
• D) $1,800

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Definitions:

Contemporary Work

Refers to art, literature, music, or any creative endeavor produced in the current period or very recently.

Remaking Impressionism

The process or trend of revisiting and reinterpretation of the Impressionist movement in art, which originally emerged in the late 19th century focusing on capturing light and natural forms.

Permanent

Lasting or intended to last or remain unchanged indefinitely.

Transitory

Pertaining to or lasting for only a short period of time; temporary and fleeting in nature.