The plant and machinery account (at cost) of a business for the year ended 31
FINANCIAL
POST UTME OAU
The plant and machinery account (at cost) of a business for the year ended 31 December, 2014 is as follows in the image below: The company’s policy is to charge depreciation at 20% per year on the straight line basis, with proportionate depreciation in the years of purchase and disposal. What should be the depreciation charge for the year ended 31 December 2014?
- A) ?680,000
- B) ?640,000
- C) ?610,000
- D) ?550,000
Correct Answer: D) ?550,000
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