Chapter 11: Depreciation (Short Quiz)

Depreciation is the ____________ of the non-current asset's cost over its estimated useful life.

Is the depreciation method used straight-line or reducing-balance?

• Straight-line

• Reducing-balance

What is the amount of net book value as at 31 December 2021

• 2000

• 20000

• 14000

• 16000

What is the depreciation rate (%) used in this table?

• 5%

• 10%

• 15%

• 20%

Johnson Trading purchased a motor van for $90,000 on 1 Jan 2019. Depreciation of 20% per annum is to be charged on motor vehicles using the reducing-balance method.

How much is the depreciation expense for the year ended 31 December 2020?

• 18000

• 36000

• 9450

• 14400

How much is the depreciation expense for the year ended 31 December 2020?

• 16000

• 8000

• 12800

• 10240

How much is (a) ?

• 12500

• 9375

• 21875

• 23750

How much is (b) ?

• 12500

• 1875

• 28125

• 9375

How much is (c) ?

• 12500

• 21875

• 23750

• 9375

Which is the starting page for Chapter 11 in workbook?

• 125

• 127

• 129

• 131

Answer explanation

It pays to bring your workbook for class! =P