Ontario Ltd

question 83

Multiple Choice

Ontario Ltd.owns a machine that it purchased on Jan 1,2016 for $750,000.The machine had an estimated useful life of 5 years and an estimated residual value of $50,000.The company uses straight-line depreciation and records monthly depreciation.The machine was sold on December 31,2019 for $200,000.What was the annual depreciation expense?

• A)$10,000
• B)$140,000
• C)$150,000
• D)$560,000

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Praise

The expression of approval, commendation, or admiration.

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Forward or onward movement towards achieving a goal or completing a task.

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The act of identifying someone or something from previous encounters or knowledge.

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A word or gesture of welcome or acknowledgment used when meeting or encountering someone.