Accounting for IGCSE & O level - Accounting Procedures (Section 11 - No. 30)
A machine cost $25,000 has an estimated life of 5 years. The estimated salvage value is $5,000. Using the straight-line method, what is the annual depreciation expense?
$4,000
$5,000
$20,000
$25,000
Explanation
($25,000 - $5,000) / 5 years = $4,000
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