Question No 19:
N purchased a machine for $15,000. The transportation costs were $1,500 and installation costs were $750. The machine broke down at the end of the first month in use and cost $400 to repair. N depreciates machinery at 10% each year on cost, assuming no residual value.
What is the net book value of the machine after one year?
A. $13,500
B. $14,850
C. $15,525
D. $15,885
Answer: C
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