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Use the following information to answer the questions The yearly depreciation charge using the straight line...

Accounts - Principles of Accounts
WAEC 2024

Use the following information to answer the questions

The yearly depreciation charge using the straight line method is  
\(\frac{X-Y}{Z}\)  

The letter X in the formula represents 

  • A. cost of the asset.
  • B. accumulated depreciation.
  • C. estimated useful life of the asset.
  • D. rate of depreciation.
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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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Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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