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

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

A machine costs ₦500,000, has a residual value of ₦50,000 and a life of 5 years. Find the annual straight-line depreciation.

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Answer: C. ₦90,000

(500,000 − 50,000)/5 = ₦90,000.

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