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Accounts (Principles of Accounts) · Depreciation of non-current assets

Accounts (Principles of Accounts)Depreciation of non-current assetsWAEC

A machine costing ₦50,000 with a residual value of ₦5,000 and a life of 5 years is depreciated by the straight-line method. Annual depreciation is

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Answer: A. ₦9,000

(50,000 − 5,000) ÷ 5 = 9,000.

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