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The accounting year of Fehintola Ltd. ends on 31st December every year. Pant and...


Question

The accounting year of Fehintola Ltd. ends on 31st December every year. Pant and Machinery purchased on 1st January, Year 1 ₦600,000

Depreciation rate per anuum, 10%

Scrap value, ₦60,000.

Using reducing balance method, what is the depreciation for Yr. 2?

Options

A) ₦160,000

B) ₦114,000

C) ₦60,000

D) ₦54,000

E) ₦48,000

The correct answer is B.


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