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The yearly depreciation using the straight line method would be

Accounts - Principles of Accounts
JAMB 2018

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

  • A. N8,800
  • B. N6,500
  • C. N5,200
  • D. N4,400
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Correct Answer: Option C
Explanation

35000 - 9000 = 26000

26000 * 1/5 = 5200

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