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Use the following information to answer the question Sammy acquired plant an machinery costing ₦120,000...

Accounts - Principles of Accounts
WAEC 2023

Use the following information to answer the question

Sammy acquired plant an machinery costing ₦120,000 with an estimated useful life of 4 years and residual value of ₦2,000. The sum of the year digits method is used.

The depreciation to be charged for the third year will be

  • A. ₦3,000
  • B. ₦4,000
  • C. ₦1,000
  • D. ₦2,000
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Correct Answer: Option B
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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