An asset was bought on 1st January 1995 for N60... - WAEC Accounting 2002 Question
An asset was bought on 1st January, 1995 for N60,000. Depreciation was provided for annually at 20% on cost. It was sold for N21,000 on 30th October 1998. Depreciation is charged fully in the year of disposal. Profit on sale is
A
N24,000
B
N21,000
C
N18,000
D
N9,000
correct option: d
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