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. The net book value of the equipment at the time sale was
N48,000
N36,000
N38,000
N24,000
N12,000
Correct answer is D
No explanation has been provided for this answer.
Which of the following accounts is debited when a delivery van is sold for cash? ...
Use the following information to answer the given question \(\begin{array}{c|c} & D\\ \hline ...
The 5% discount shown above indicates ...
A book of account that possesses the features of both day book and ledger is ...
Where there is no agreement between the partners, the Partnership Act states that ...
Use the following to answer the given question \( \begin{array}{c|c} \text{Purchases} & 2,0...
In a partnership business, the net profit serves as opening figure for ...
The accounting convention that state that, stock should be value that the lower of cost and net...
A debit in the suspense accounting will appear in the balance sheet as? ...