Use the following information to answer this qu... - WAEC Accounting 1997 Question
Use the following information to answer this question
An asset was bought on 1st January, 1992 for N20,000. Depreciation was provided for annually at 20% on cost. It was sold for N7,000 on 1st July, 1995.
The net book value at the time of sale was
An asset was bought on 1st January, 1992 for N20,000. Depreciation was provided for annually at 20% on cost. It was sold for N7,000 on 1st July, 1995.
The net book value at the time of sale was
A
N16,000
B
N14,000
C
N12,000
D
N8,000
correct option: e
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