WAEC Book Keeping 2025 Objective — Question 19

Question 19 of 42 from the West African Examinations Council (WAEC) Book Keeping 2025 Objective paper, with the correct answer and a full explanation.

Use the following information to answer questions 19 and 20. The net book value at the end of the first year is:

A. N287,500Correct
B. N300,000
C. N325,000
D. N350,000

Explanation

Annual depreciation = (Cost - Salvage value) / Useful life = (325,000-25,000)/8 = N37,500. Net book value = 325,000 - 37,500 = N287,500.

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