Question on: JAMB Accounting - 2016
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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 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
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Correct Option: C
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