Use the following information to answer this question. Cost of assets (01/01/18) ₦ 600,000. Annual depreciation charge is 15% on reducing balance basis. Dep...

To calculate the depreciation for the year 2019, we need to know the carrying value of the asset at the beginning of the year, which is the cost of the asset minus accumulated depreciation up to the end of the previous year. Accumulated depreciation for the end of 2018 can be calculated as follows: Depreciation for 2018 = 15% x ₦600,000 = ₦90,000 Accumulated depreciation at the end of 2018 = ₦90,000 Carrying value of the asset at the beginning of 2019 can be calculated as follows: Carrying value at beginning of 2019 = Cost of asset - Accumulated depreciation at the end of 2018 Carrying value at beginning of 2019 = ₦600,000 - ₦90,000 Carrying value at beginning of 2019 = ₦510,000 Using the reducing balance method, the depreciation charge for 2019 can be calculated as 15% of the carrying value at the beginning of the year: Depreciation for 2019 = 15% x ₦510,000 Depreciation for 2019 = ₦76,500 Therefore, the answer is option (D), ₦76,500.