A plant which costs N1,000 and has a residual value of N125 is depreciated at…

Accounts - Principles of Accounts WAEC 1994

A plant which costs N1,000 and has a residual value of N125 is depreciated at 20% per annum. Using the diminishing balance, what is the net book value at the second year?

  • N512
  • N525
  • N640 checkmark
  • N700
  • N800

The correct answer is: C

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