Accounting for IGCSE & O level - Accounting Procedures (Section 10 - No. 33)
If a machine costs $50,000, has a residual value of $5,000, and a useful life of 5 years. What is the depreciation using the straight line method?
$10,000
$45,000
$9,000
$11,000
Explanation
($50,000 - $5,000)/ 5 = $9,000.
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