Accounting JAMB

If the scrap value is presently #15000. What will be the yearly depreciation using straight-line method?

A machine bought for #35,000 was estimated to have a life span of 5 years with a scrap value of #9,000.

 

A. #4,000
B. #7,000
C. #11,000
D. #24,000

Correct Answer:

Option A – #4,000

Explanation

35,000 – 15000 = 20000

20000/ 5= 4000

Sunday

Share
Published by
Sunday
Tags: Accounting

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

3 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

3 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

3 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

3 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

3 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

3 months ago