Seally Corp

question 81

Multiple Choice

Seally Corp. owns a machine that it purchased on Jan 1, 2010 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, 2012 for $140,000. What was the depreciation expense for 2011?

• A)$50,000
• B)$60,000
• C)$80,000
• D)$96,000

---

Definitions:

Wavelength

The distance between successive crests of a wave, especially points in a sound wave or electromagnetic wave.

Crests

The peaks or highest points of a wave, often used in the context of waves in physics or oceanography.

Amplitude

In physics, it refers to the maximum extent of a vibration or oscillation, measured from the position of equilibrium.

Rods

Photoreceptors in the retina of the eye that are responsible for vision at low light levels, but cannot discern color.