WAEC - Accounts Principles Of Accounts (2024 - No. 5)
Use the following information to answer the questions
The yearly depreciation charge using the straight line method is
\(\frac{X-Y}{Z}\)
The letter Z in the formula represents
cost of the asset.
accumulated depreciation.
estimated useful life of the asset.
rate of depreciation.
Explanation
The straight line method of depreciation formular is:
\(\frac{\text{cost of asset} - \text{scrap value}}{\text{estimated useful year}}\)
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