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 profit on sale was

Similar Questions

The amount called in respect of a share but not paid before or on the date fixed for payment is refe...

Use the information to answer the given question. RECEIPTS AND PAYMENTS ACCOUNT: \(\begin{array}{...

Profit expressed in relation to cost of goods sold is ...

Cash received from the subscribed shares is recorded by debting? ...

Use the following information to answer the given question Rufai, a vulcanize bought 4 machines for...

\(\begin{array}{c|c} & ₦\\ \hline \text{Opening stock} & 40,000\\ \text{Purchases} & 1...

The excess of the par value of a company's shares over the amount for what for which they are is...

A cheque of #5,000 paid to Sulieman had been correctly entered in the cash book but had not been ent...

The effect of transaction when cash is paid into the bank is ...

The document setting out the regulations regarding shares, meetings and internal organization of a c...