Accounts (Principles of Accounts)Depreciation of non-current assetsJAMB
Equipment costing ₦500,000 with a residual value of ₦50,000 is depreciated by the straight-line method over 5 years. Its net book value at the end of the second year is
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Answer: A. ₦320,000
500,000 − (2 × 90,000) = ₦320,000.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.