Multiple Choice
Newark Company purchased a machine for $35 000 on 1 January 2012 with an estimated life of 5 years and a residual value of $5000. The straight-line method of depreciation is used. What is the carrying value of the machine on the 31 December 2014 in the balance sheet of Newark Company?
A) $30 000
B) $17 000
C) $18 000
D) $12 000
Correct Answer:
Verified
Correct Answer:
Verified
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