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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Definitions:

Pessary

A medical device inserted into the vagina to support its structure and help with conditions like pelvic organ prolapse.

Prolapsed Uterus

A condition where the uterus descends from its normal position into or through the vaginal canal due to weakened pelvic floor muscles.

Vagina

The muscular tube leading from the external genitals to the cervix of the uterus in females.

Device

A device is an object or machine designed to perform a specific task or function, often used to refer to technological items or medical apparatus.