Using the reducing balance method, the depreciation charged for year 2002 was
Motor vehicles(at cost) 1/1/2002₦1,000,000 Addition to motor vehicles 1/7/2003₦600,000 Depreciation rate 10%
Using the reducing balance method, the depreciation charged for year 2003 was
A ₦160,000
B ₦150,000
C ₦130,000
D ₦120,000
Answer is B
