An equipment costing N60,000 was bought on 1st January 19...
An equipment costing N60,000 was bought on 1st January 1991. Depreciation was provided at 20 percent annually on straight line method. It was straight line method. it was sold on 30th June 1994 for N15,750. In the year of sale, profit was
Reduced by N15,750
Increased by N15,750
Reduced by N12,000
Increased by N2,250
Reduced by N2,250
Correct answer is C
No explanation has been provided for this answer.
Which of these will not appear in the preparation of control account? I. Bad debts II. Discounts ...
Which of the following is not part of the central processing unit of a computer? ...
Gross profit b/d Less: Salaries and wages ...
Carriage inwards is shown on the ...
Which of the following does not relate to government accounting system? ...
\(\begin{array}{c|c} & \text{1/6/2011} & \text{30/5/2012}\\ & D & D \\ \hline \text{...
Use the following information to answer the given question: \(\begin{array}{c|c} & N \\ \hl...
Which of the following is/are true? i. depreciation charges increase profits ii. reduc...