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WAEC Accounting 2023 Paper

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Question : 44

Total: 50

Use the following information to answer the question

Sammy acquired plant an machinery costing ₦120,000 with an estimated useful life of 4 years and residual value of ₦2,000. The sum of the year digits method is used.
The value of the asset at the end of the first year is

₦5,000
₦8,000
₦2,000
₦3,000

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