Waec Model Questions Vol1 2018 Financial Accounting Question 47
Practice objective / multiple choice question 47 from the 2018 Waec Model Questions Vol1 Financial Accounting examination.
A machine was purchased on 1 January 2015 for ₦560,000. The company depreciated it using the straight‑line method at a rate of 20 % of cost per annum for the first two years. On 1 January 2017 the depreciation method was changed to the diminishing‑balance method at 30 % per annum on the written‑down value. No residual value is considered. Determine the book value of the machine on 31 December 2019.
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About This Question
This is Waec Model Questions Vol1 2018 Financial Accounting Question 47. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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