ACCOUNTING

JAMB 2005 - Question 17

Account 2005 JAMB Past Questions - Question 17: 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 accumulated depreciation provision at the time of sale was

Choose the correct answers from the options given.
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 accumulated depreciation provision at the time of sale was
A:
B:
C:
D:
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Correct Answer

D

Explanation

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