Calculate the yearly depreciation expense using the straight line method.

By: |Published on: Dec 5|Categories: Accounting JAMB| 0 comments

Use the information below to answer questions .

On January 1/2005, a machine was bought for N56,000 to last for five years with a residual value of N1000.

A. N11 000
B. N11 200
C. N11 400
D. N11 300

Correct Answer: Option A

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