A piece of equipment costing N120,000 was purchased on 1/...
Use the information to answer question
A piece of equipment costing N120,000 was purchased on 1/1/1996. Depreciation was provided at 20% per annum on a straight-line basis. it was sold on 30/6/1999 for N31,500.
The net book value of the piece of equipment at the time of sale was?
N96,000
N48,000
N36,000
N24,000
Correct answer is C
No explanation has been provided for this answer.
Provision for depreciation on office furniture is charged to ...
Debentures can be redeemed out of? ...
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accoun...
The effect of overstating revenue expenditure in the profit and loss account is that the ...
An example of fixed asset is ...
The use of three column cash book is determined by ...
Trade creditors personal accounts are found in the ...
\(\begin{array}{c|c} & N \\ \hline \text{Opening stock of raw materials} & 8,000\\ \text{Pur...