A motor car costing D100 000 was depreciated at... - WAEC Accounting 2009 Question
A motor car costing D100,000 was depreciated at 20% per annum by the diminishing balance method. Two years later, it was sold for D60,000. Using the information, the net profit or loss on the sale was
A
D 40,000 profit
B
D 4,000 profit
C
D 4,000 loss
D
D 40,000 loss
correct option: c
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