JAMB - Accounts Principles Of Accounts (2018 - No. 55)
A machine bought for N35,000 was estimated to have a life span of 5 years with a scrap value of N9,000.
A machine bought for N35,000 was estimated to have a life span of 5 years with a scrap value of N9,000.
A machine bought for N35,000 was estimated to have a life span of 5 years with a scrap value of N9,000.
The yearly depreciation using the straight line method would be
Explanation
35000 - 9000 = 26000
26000 * 1/5 = 5200
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