On October 1, 2018, Ming Wo Ltd

question 88

Multiple Choice

On October 1, 2018, 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, 2019 is

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

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