On October 1, 2015, Ming Wo Ltd

question 67

Multiple Choice

On October 1, 2015, Ming Wo Ltd.places a new asset into service.The cost of the asset is $16,000 with an estimated 5-year life and $4,000 residual value.If Ming Wo uses straight-line depreciation, the depreciation expense for the year ended January 31, 2016 is

• A)$ 600.
• B)$ 800.
• C)$1,067.
• D)$2,400.

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Definitions:

Acoustical Signals

Sounds or vibrations used for communication or detection in various organisms and technologies.

Chemical

A substance produced by or used in a chemical process.

Visual

Relating to the sense of sight, involving the ability to see, or the processing of visual information by the brain.

Right Whales

A group of large baleen whales with distinctive callosities on their heads, facing numerous threats leading to their status as endangered species.