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 the straight line method, what is the cumulative depreciation at the end of yr.3?
N216,000
N206,340
N180,000
N162,600
N162,000
Correct answer is C
No explanation has been provided for this answer.