Post Utme Uniben 2024 Accounting Question 24
Practice objective / multiple choice question 24 from the 2024 Post Utme Uniben Accounting examination.
A company issued 10,000 shares of 1 par value at a premium of 3 per share. The proceeds from the sale of these shares were used to purchase equipment. The equipment was depreciated using the straight-line method over a 5-year useful life. At the end of the first year, the equipment had a book value of 18,000. What was the total amount of depreciation expense for the first year?
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About This Question
This is Post Utme Uniben 2024 Accounting Question 24. It is one of the objective questions from the 2024 Post Utme Uniben Accounting examination.
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