On 31 December 2017, a new machine with a useful life of 6 years and an estimated residual value of zero was purchased by a business at a cost of $30,000. The amount of depreciation expense charged for the year ended 31 December 2019, using the reducing-balance method at a rate of 30% per annum, is:Group of answer choices

A company purchases a machine for $10,000. The estimated residual value is $4,000, and the estimated service life is 4 years or 10,000 units. The company uses the straight-line method of depreciation. The depreciable cost of the asset is:Multiple Choice$6,000$10,000$1,000$1,500

Machinery is purchased for $140,000. It is estimated that it has a useful life of 5 years and a residual value of $20,000. Using the straight-line method, the balance in the accumulated depreciation account at the end of the third year of the machine’s useful life is:$68,000$140,000$72,000$24,000

Assume the cost of computer equipment was $11,000, the estimated residual value is $1,000, and the estimated useful life is five years. The company uses a declining balance method to depreciate the asset over its useful life at a rate of 40%. Calculate the depreciation expense of the company over the 5 years.

On 31 December 2018, a new motor vehicle with a useful life of five years and an estimated residual value of $5,000 was purchased by a business at a cost of $25,000. The amount of depreciation expense charged for the six months ended 30 June 2019, using the straight-line method, is:

Equipment is purchased for $50,000. It is to be depreciated on a diminishing balance basis using a rate of 10%. How much will be charged for depreciation expense for year 3 of the machine’s life?$4,500$4,050$15,000$5,000