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 reducing balance method, what is the amount of depreciation for the second year?

  • N1,313 checkmark
  • N1,4066
  • N1,625
  • N1,750
  • N1,875

The correct answer is: A

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