If a company buys a machine for £12,000 with an estimated useful life of 4 years and a residual value of £4,000,what is the annual depreciation charge if calculated on a straight line basis?
A) £2,000
B) £4,000
C) £1,000
D) £3,000
Correct Answer:
Verified
Q4: Operating profit is:
A) Sales - cost of
Q5: Which of the following statements is correct?
A)
Q6: Which of the following statements is false?
A)
Q7: If purchases for the year are £18,250,closing
Q8: Revenue is the amount received in cash
Q10: Profit = revenue + expenses
Q11: Which of the following statements is false?
A)
Q12: Gross profit is the difference between sales
Q13: If opening stock is £2,000,purchases for the
Q14: If a company purchases a machine for
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents