WAEC Financial Accounting 2014 Question 11

Use the following information to answer questions 11 and 12.
Cost of motor vehicle – 1/1/12: ₦85,000
Residual value: ₦5,000
Estimated useful lifespan 10 years
The business makes use of the straight line method for providing depreciation.
The annual depreciation is

1. A.₦9,000.
2. B.₦8,500.
3. C.₦8,000.
4. D.₦6,500.