Use the following information to answer the question Sammy acquired plant an machinery costing N120,000...
FINANCIAL
WAEC 2023
Use the following information to answer the question
Sammy acquired plant an machinery costing N120,000 with an estimated useful life of 4 years and residual value of N2,000. The sum of the year digits method is used.
The depreciation to be charged for the third year will be
- A. N3,000
- B. N4,000
- C. N1,000
- D. N2,000
Correct Answer: B. N4,000
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