Question on: JAMB Accounting - 2019
The cost of a machine is ₦10,000. The residual value is ₦4,000. It is expected to last for 4 years. Using the straight line method, what is the amount of depreciation charged per annum?
A
6000
B
1000
C
1500
D
2500
Ask EduPadi AI for a detailed answer
Correct Option: C
depreciation charged per annum =
= cost - estimated value
years of useful life
= 10,000 - 4000 = 1500
4
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