On January 1/2005, a machine was bought for N56,000 to last for five years with
FINANCIAL
JAMB 2006
On January 1/2005, a machine was bought for N56,000 to last for five years with a residual value of N1000.
Calculate the yearly depreciation expense using the straight line method.
- A. N11 000
- B. N11 200
- C. N11 400
- D. N11 300
Correct Answer: A. N11 000
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