Home » » Use the following information to answer the given question:$$\begin{array}{c|c} \text{Motor vehicles(at cost) 1/1/2002} & ₦1,000,000\\ \text{Addition to motor vehicles 1/7/2003} & ₦600,000 \\ \text{Depreciation rate 10%} & \end{array}$$Using the reducing balance method, the depreciation charged for year 2003 was...

# Use the following information to answer the given question:$$\begin{array}{c|c} \text{Motor vehicles(at cost) 1/1/2002} & ₦1,000,000\\ \text{Addition to motor vehicles 1/7/2003} & ₦600,000 \\ \text{Depreciation rate 10%} & \end{array}$$Using the reducing balance method, the depreciation charged for year 2003 was...

### Question

Use the following information to answer the given question:

$$\begin{array}{c|c} \text{Motor vehicles(at cost) 1/1/2002} & ₦1,000,000\\ \text{Addition to motor vehicles 1/7/2003} & ₦600,000 \\ \text{Depreciation rate 10%} & \end{array}$$

Using the reducing balance method, the depreciation charged for year 2003 was

A) ₦160,000

B) ₦150,000

C) ₦130,000

D) ₦120,000