All Saints Ltd Acquired a Machine for $50 000 on 1

question 73

Multiple Choice

All Saints Ltd acquired a machine for $50 000 on 1 January.This asset has useful life of 4 years and a residual value of $10 000.The declining balance rate adopted by the entity for similar machines is 40%.What is the depreciation expense for the first year,if the depreciation policy adopted is straight-line,declining-balance or sum-of-digits method,respectively?

• A) $10 000; $20 000; $16 000
• B) $10 000; $25 000; $20 000
• C) $12 500; $20 000; $16 000
• D) $12 500; $25 000; $20 000

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A state in the western United States known for its vast landscapes, national parks, and the Great Salt Lake.