Using the reducing balance method, the depreciation charged for year 2002 was
Use the following information to answer the given question
(begin{array}{c|c} text{Motor vehicles(at cost) 1/1/2002} & ₦1,000,000\ text{Addition to motor vehicles 1/7/2003} & ₦600,000 \ text{Depreciation rate 10%} & end{array})
Using the straight reducing balance method, the depreciation charged for year 2002 was
Use the following information to answer the given question
(begin{array}{c|c} text{Motor vehicles(at cost) 1/1/2002} & ₦1,000,000\ text{Addition to motor vehicles 1/7/2003} & ₦600,000 \ text{Depreciation rate 10%} & end{array})
Using the straight reducing balance method, the depreciation charged for year 2002 was
-
A.
₦100,000 -
B.
₦90,000 -
C.
₦80,000 -
D.
₦60,000