MACHINERY Historical cost ₦6 000 000.00 Estimated useful life 20 years Residual value ₦25 000.00 Date of acquisition 1/1/71 Depreciation method Straight lin...

Question 1 Report

MACHINERY
Historical cost ₦6 000 000.00
Estimated useful life 20 years
Residual value ₦25 000.00
Date of acquisition 1/1/71
Depreciation method Straight line

Accumulated depreciation on the asset as at 31/12/81 was

Nature And Significance Of Accounting
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