Alby Ltd Purchased a Machine for $32 000 on 1

question 17

Multiple Choice

Alby Ltd purchased a machine for $32 000 on 1 January 2015.The machine was expected to have a useful life of four years.The financial year ends on 31 December.The straight-line method of depreciation is employed.
-What was the balance of the Accumulated depreciation account at 31 December 2017?

• A) $24 000
• B) $27 750
• C) $31 500
• D) None of the answers provided

---

Definitions:

Signature

A person's name or mark written in a distinctive way as a form of identification in authorizing a document.

Code

A system of laws or regulations, typically organized in a comprehensive and systematic manner.

Maker

In the context of negotiable instruments, the individual or entity that creates and signs the promissory note, committing to pay the specified sum.

Note

A legal document that represents a type of debt or an obligation to pay an amount of money at a future date.