NECO Accounting 2022 Objective — Question 18
Question 18 of 50 from the National Examinations Council (NECO) Accounting 2022 Objective paper, with the correct answer and a full explanation.
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Using the information in Q17, the net book value of the machine in the balance sheet as at 31 December 2020 was
- A. D1,080,000
- B. D972,000
- C. D874,800
- D. D787,320Correct
Explanation
Net book value after 2020 depreciation (10% x 874,800) = 874,800 - 87,480 = D787,320.
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