Question on: WAEC Accounting - 2014
Use the information to answer the question given.
\(\begin{array}{c|c} \text{Cost of motor vehicle - 1\1\12} & ₦ 85,000\ \text{Residual value} & ₦5,000 \ \text{Estimated useful lifespan 10 years} & \end{array}\).
The business make use of the straight line method for providing depreciation, the accumulated depreciation as at 31/12/2013 is
\(\begin{array}{c|c} \text{Cost of motor vehicle - 1\1\12} & ₦ 85,000\ \text{Residual value} & ₦5,000 \ \text{Estimated useful lifespan 10 years} & \end{array}\).
The business make use of the straight line method for providing depreciation, the accumulated depreciation as at 31/12/2013 is
A
₦18,500
B
₦17,000
C
₦16,000
D
₦8,000
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Correct Option: C
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