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JAMB Accounting 2013 Objective — Question 13

Question 13 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2013 Objective paper, with the correct answer and a full explanation.

(Using the same information as Q12) If the scrap value is presently ₦15,000, what will be the yearly depreciation using the straight line method?

A. ₦4,000Correct
B. ₦7,000
C. ₦11,000
D. ₦24,000

Explanation

Depreciation = (35,000 − 15,000) ÷ 5 = ₦4,000.

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