# Lesson Notes By Weeks and Term - Senior Secondary 1

Depreciation account II

Term: 3rd Term

Week: 8

Class: Senior Secondary School 1

Age: 15 years

Duration: 40 minutes of 2 periods each

Date:

Subject:      Financial accounting

Topic:-       Depreciation account II

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

1. Define straight line method
2. State the formula for straight line method
3. Calculate the value of depreciation

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

 PRESENTATION TEACHER’S ACTIVITY STUDENT’S ACTIVITY STEP 1 INTRODUCTION The teacher reviews the previous lesson on exercises on depreciation account Students pay attention STEP 2 EXPLANATION She defines straight line method and states its formula Students pay attention and participates STEP 3 DEMONSTRATION She shows the learners how to calculate the value of depreciation Students pay attention and participate STEP 4 NOTE TAKING The teacher writes a summarized note on the board The students copy the note in their books

NOTE

DEPRECIATION ACCOUNT
Straight line method is also known as fixed instalment method. This method of depreciation charge equal amount as depreciation for each year till the end of its useful life.

FORMULA FOR STRAIGHT LINE METHOD

EXAMPLES

A machine bought for N 7,000 was estimated to have a useful life of 4 years and a scrap value of N 4,500.

Required: calculate the value of annual depreciation charge.

SOLUTION

1. The following data relates to the Equipment of Gold Enterprise;
 Cost of machines = N 1000 Residual value =N125 Rate =   20%

Required: Calculate the amount of depreciation charge for the second year.

SOLUTION

Depreciation charge for the second year = N 1000- N 125= N 875

EVALUATION :   1. What is straight line method?

1. State the formula for straight line method.
2. A vehicle cost N 12,000 with a life span of 4 years and the residual value after the period was N 400.

Required:

Using fixed installment method, calculate the annual  depreciation charge.

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively