If machine X cost #600,000 with anticipated life span of five years and estimated scrap value of #50,000, using straight-line method; depreciation charged for two years will be

A. #700,000
B. #240,000
C. #220,000
D. #202,000

Correct Answer:

Option C – #220,000

SEE ALSO  When shares are oversubscribed and money returned to unsuccessful applicants; the entry to record such money is to debit?

Copyright warnings! Do not copy.