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Using The Reducing Balance Method, The Depreciation Charged For The Year 2003 Was? - Erudites Academy

Using the reducing balance method, the depreciation charged for the year 2003 was?

Use the following information to answer the given question

*Motor vehicles(at cost) 1/1/2002*	*₦1,000,000*
*Addition to motor vehicles 1/7/2003*	*₦600,000*
*Depreciation rate 10%*

A. ₦160,000
B. ₦150,000
C. ₦130,000
D. ₦120,000

Correct Answer: Option B

B. ₦150,000

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5 years ago