A plant which costs N1,000 and has a residual value of N125 is depreciated at 20% per annum. Using the diminishing balance method, what is the amount of depreciation for the second year?

A plant which costs N1,000 and has a residual value of N125 is depreciated at 20% per annum. Using the diminishing balance method, what is the amount of depreciation for the second year?

A N128

B N140

C N160

D N175

Answer is C

Do you need a better understanding of this subject?

Do you need assignment help or homework help, tips and expos on how to pass your exams excellently well? Then Click Here To Start.

This tutorial class is limited to 250 students only. JOIN OTHER STUDENTS HERE NOW