Use the following information to answer questions 10-12 A motor vehicle bought for #1,600,000 was estimated to have a useful life span of 4 years and a resi...

Assessment: WAEC SSCE - Book Keeping - 2025 (Objective) Subject: Book Keeping

Question 1 Report

Use the following information to answer questions 10-12

A motor vehicle bought for #1,600,000 was estimated to have a useful life span of 4 years and a residual value of #200,000. The straight line method of calculating depreciation is used.The motor vehicle is sold at the end of the fourth year for #250,000.

The net value book value of the end of the fourth year is 

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