Gene’s business bought a machine for £72,000 on 1 January 2000 and another one for £96,000 on 1st July 2000. Depreciation is charged at 10% per annum straight line and calculated on a monthly basis. What is the total depreciation charge for the two machines for the year ended 31 December 2000? A £6,000 B £8,400 C £12,000 D £16,800

Gene’s business bought a machine for £72,000 on 1 January 2000 and another one for £96,000 on 1st July 2000. Depreciation is charged at 10% per annum straight line and calculated on a monthly basis. What is the total depreciation charge for the two machines for the year ended 31 December 2000? A £6,000 B £8,400 C £12,000 D £16,800

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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