Question on: WAEC Accounting - 1998
The accounting year of Fehintola Ltd. ends on 31st December every year. Pant and Machinery purchased on 1st January, Year 1 N600,000
Depreciation rate per anuum, 10%
Scrap value, N60,000. Using the straight line method, what is he net book value at the beginning of the year 3?
Depreciation rate per anuum, 10%
Scrap value, N60,000. Using the straight line method, what is he net book value at the beginning of the year 3?
A
N540,000
B
N492,00
C
N438,000
D
N437,400
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Correct Option: B
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