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Accumulated depreciation on the asset as at 31/12/81 was


AccountsJAMB UTME

Question

MACHINERY
Historical cost₦6,000,000.00
Estimated useful life20 years 
Residual value₦25,000.00 
Date of acquisition 1/1/71 
Depreciation method Straight line 

Accumulated depreciation on the asset as at 31/12/81 was

Options

A)
₦2,487,500.00
B)
₦2,736,250.00
C)
₦4,511,192.00
D)
₦4,975,000.00

The correct answer is B.


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