Depreciation for the year 2019 is?

Use the following information to answer this question.

Cost of assets (01/01/18) ₦ 600,000. Annual depreciation charge is 15% on reducing balance basis.

A. ₦180,000
B. ₦166,500
C. ₦90,000
D. ₦76,500

Correct Answer:

Option D = ₦76,500