Question on: WAEC Accounting - 2006
Using the reducing balance method, the depreciation charged for year 2002 was
Use the following information to answer the given question
\(\begin{array}{c|c} \text{Motor vehicles(at cost) 1/1/2002} & ₦1,000,000\ \text{Addition to motor vehicles 1/7/2003} & ₦600,000 \ \text{Depreciation rate 10%} & \end{array}\)
Using the straight reducing balance method, the depreciation charged for year 2002 was
Use the following information to answer the given question
\(\begin{array}{c|c} \text{Motor vehicles(at cost) 1/1/2002} & ₦1,000,000\ \text{Addition to motor vehicles 1/7/2003} & ₦600,000 \ \text{Depreciation rate 10%} & \end{array}\)
Using the straight reducing balance method, the depreciation charged for year 2002 was
A
₦100,000
B
₦90,000
C
₦80,000
D
₦60,000
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Correct Option: A
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