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Asa Company bought a vehicle worth ₦20,000 and the vehicle is to be depreciated ...


AccountsJAMB UTME 1999

Question

Asa Company bought a vehicle worth ₦20,000 and the vehicle is to be depreciated at 5%. Using the reducing balance method of depreciation, what would be the value of the asset after 3 years?

Options

A)
₦19,000.00
B)
₦18,050.50
C)
₦17,147.50
D)
16,290.13

The correct answer is C.


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