10% IS CHARGED ON DEPRECIATION OF FIXED ASSETS
10% IS CHARGED ON DEPRECIATION OF FIXED ASSETS
Determine the value of Ojo's fixed assets
N14450
N13450
N13005
N12005
Correct answer is C
From the diagram above, fixed assets are made up of land and building, fittings and motor van. Hence we have;
12,000 + 850 + 1600 = 14,450
10% = \(\frac{10}{100}\) x 14,450 = 1445
14,450 - 1445 = 13,005
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