Use the information below to answer the question that follows, A machine bought for N35,000...
FINANCIAL
JAMB 2016
Use the information below to answer the question that follows,
A machine bought for N35,000 was estimated to have a life span of 5years with a scrap value of N9,000. If the scrap value is now N15,000. What will be the yearly depreciation using the straight line method.?
- A. N11,000
- B. N7,000
- C. N4,000
- D. N24,000
Correct Answer: C. N4,000
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