Base-Forward Owns a Machine That It Purchased on Jan 1

question 101

Multiple Choice

Base-Forward owns a machine that it purchased on Jan 1, 2010 for $600,000. The machine had an estimated useful life of 5 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 2012?

• A)$292,800
• B)$76,800
• C)$60,000
• D)$50,000

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Definitions:

Immune Response

The biological processes through which your body detects and defends itself against harmful substances, infections, and diseases.

Productively Communicate

The skill of exchanging information or ideas in a way that is effective and beneficial for all parties involved, ensuring clarity and understanding.

Proinflammatory Cytokine

A chemical secreted by the immune system that promotes inflammation, and is associated with feelings of sickness, depression, and social withdrawal.

Infectious Disease

Diseases caused by pathogenic microorganisms, such as bacteria, viruses, parasites, or fungi that can be spread, directly or indirectly, from one person to another.