SOLUTION TO TEST QUESTION ON DEPRECIATION ACCOUNTS PREPARED BY PATRIOT ODUNARO BABATUNDE JIMOH

 

Indeed, “res ipsa loquitor”, (the action speaks for itself) 

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The LORD by wisdom founded the earth;

By understanding He established the heavens;

Wisdom is the principal thing;

Therefore get wisdom.

And in all your getting,

get understanding.

PATRIOT ODUNARO BABATUNDE JIMOH

 

 

  TEST QUESTION:

The following information has been given to you about Emilokan Nigeria Limited`s factory plant and machinery.

 Cost                N12.75 million

 Rate of depreciation       15%

 Useful life      5 years

 You are required to calculate the annual depreciation charges for each year using:

(a)   Straight-line Method up till 4 years.

(b) Reducing Balance Method

(c) Sum of the year Digit Method

For the solution of the above question, 

kindly click the link below and download the solution :

Click the link now and download the solution:

https://docs.google.com/document/d/10_LCqw0f19Y5Rjodcqj3dr4m-43Xos9r/edit

 

15 Reasons Why You Should Add ‘Ukwa’ To Your Diet

 

 Click the link now and learn the benefit of Ukwa food.

https://guardian.ng/life/5-reasons-why-you-should-add-ukwa-to-your-diet/ 

 

KNOWLEDGE IS POWER!