JAMB Accounting 2007 Objective — Question 28

Question 28 of 46 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2007 Objective paper, with the correct answer and a full explanation.

What was the asset value at the beginning of the third year?

A. #63M
B. #133MCorrect
C. #36M
D. #28M

Explanation

Accumulated depreciation after 2 years = #105M x 2 = #210M. Net book value at start of year 3 = #343M - #210M = #133M.

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