The accounting year of Fehintola Ltd. ends on 31st December every year. Pant and Machinery purchased on 1st January, Year 1 N600,000
Depreciation rate per anuum, 10%
Scrap value, N60,000.
Using reducing balance method, what is the depreciation for Yr. 2?
N160,000
N114,000
N60,000
N54,000
N48,000
Correct answer is B
No explanation has been provided for this answer.