Jeng Limited disposed a fixed asset in 1999 for... - WAEC Accounting 2001 Question
Jeng Limited disposed a fixed asset in 1999 for N2,000. The asset was purchased in 1996 at a cost of N10,000 and has been depreciated at the rate of 20% per annum using the straight line method. What is the profit or loss on the disposal asset?
A
N4,000 profit
B
N2,000 profit
C
N2,000 loss
D
N2,000 loss
correct option: c
Please share this, thanks:
Add your answer
No responses