A machine cost N12,000 and has a useful life of 4 years and an expected disposal value of N400.Using the reducing balance method what will be the depreciation charge for year 2 at 20%? (ignoring residual value)

Similar Questions

\(\begin{array}{c|c} \text{Branch stock account (at selling price)} & D346,000 - debit \\ \text{...

Gross earnings................N950,000 Current liabilities............N100,000 Operating expenses....

Which of the following can be used on admission of a new partnership? ...

Use the information to answer the given question. \(\begin{array}{c|c} & D\\ \text{Opening ...

Which of the following items is found on the debit side of the trial balance? ...

In the preparation of account, the owners of the business and the business concerned are treated as ...

\(\begin{array}{c|c} & N \\ \hline \text{Sales} & 14,600 \\ \text{Purchases} & 5,500 \\ ...

Capital at start was ₦250,000, while capital at the end of the year was ₦400,000. Drawings durin...

The accounts maintained in the nominal ledger are ...

Given:  Stock (1/4/94) N800 Purchases of flour N2450 Sales N4745 Wages of bakery staff N675...