Waec Model Questions Vol1 2017 Financial Accounting Question 49
Practice objective / multiple choice question 49 from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
A machine was purchased on 1 January 2022 for ₦500,000. It was to be depreciated over 10 years with a residual value of ₦50,000 using the double‑declining‑balance method. After three years, the company revises the residual value to ₦80,000 and the total useful life to 8 years (i.e., 5 years remaining). Depreciation continues on a double‑declining‑balance basis based on the revised remaining life. What is the depreciation expense for the year 2025?
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About This Question
This is Waec Model Questions Vol1 2017 Financial Accounting Question 49. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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