A machine bought for N7,000 was estimated to have a useful life of 4 years…

Accounts - Principles of Accounts WAEC 1994

A machine bought for N7,000 was estimated to have a useful life of 4 years and a scrap value of N500. Using the straight line method, what was the amount of depreciation charged per annum?

  • N1,313
  • N1,406
  • N1,625 checkmark
  • N1,750
  • N1,875

The correct answer is: C

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