A motor vehicle bought for N16,000 was estimated to have a useful life span of 4 years and a scrap of N2,000. Using the straight line method, what is the amount of depreciation charged per annum?
A N9,000
B N5,500
C N4,000
D N3,500
Answer is D
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A motor vehicle bought for N16,000 was estimated to have a useful life span of 4 years and a scrap of N2,000. Using the straight line method, what is the amount of depreciation charged per annum?
A N9,000
B N5,500
C N4,000
D N3,500
Answer is D
