Seall-Test Ltd

question 123

Multiple Choice

Seall-Test Ltd.owns a machine that it purchased on Jan 1,2016 for $600,000.The machine had an estimated useful life of 10 years and an estimated residual value of $100,000.The company uses the declining balance method with a rate of 20%.The machine was sold on December 31,2018 for $140,000.What was the depreciation expense for 2017?

• A)$50,000
• B)$60,000
• C)$96,000
• D)$120,000

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