JAMB - Accounts Principles Of Accounts (2016 - No. 44)

Use the information below to answer the question that follows,

A machine bought for N35,000 was estimated to have a life span of 5years with a scrap value of N9,000.
Use the information below to answer the question that follows,

A machine bought for N35,000 was estimated to have a life span of 5years with a scrap value of N9,000.
Use the information below to answer the question that follows,

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.?
N11,000
N7,000
N4,000
N24,000

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