Accounting WAEC

The cost of a machine is ₦10,000. The residual value is ₦4,000. It is expected to last for 4 years. Using the straight-line method, what is the amount of depreciation charged per annum?

A. 6000
B. 1000
C. 1500
D. 2500

Correct Answer: Option C

C. 1500

Explanation

The formula to be adopted is :
cost – estimated value
years of useful life

10,000 – 4000 = 1500
4

Sunday

Share
Published by
Sunday
Tags: Accounting
5 years ago

Recent Posts

POL 101 Theory Questions: Health Team

100 Level Department Of X-Ray Technicians exam questions and detailed answers. Download the answers in…

3 days ago

POL 101 Theory Questions: Factors Affecting Health in Nigeria

100 Level Department Of X-Ray Technicians exam questions and detailed answers. Download the answers in…

3 days ago

POL 101 Theory Questions: Primary Health Care Principles

100 Level Department Of X-Ray Technicians exam questions and detailed answers. Download the answers in…

3 days ago

POL 101 Theory Questions: Nigeria Healthcare Tiers

100 Level Department Of X-Ray Technicians exam questions and detailed answers. Download the answers in…

3 days ago

PHC 101 Theory Questions: Primary Health Care – Health According To WHO – Referral System

100 Level Department Of X-Ray Technicians exam questions and detailed answers. Download the answers in…

3 days ago

MSX 102 Theory Questions: Mores – Folk Laws – Social Stratification – Social Changes

100 Level Department Of X-Ray Technicians exam questions and detailed answers. Download the answers in…

3 days ago