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An equipment costing ₦60,000 was bought on 1st January 1991. Depreciation was ...


Question

An equipment costing ₦60,000 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 ₦15,750. Its accumulated depreciation provision provision at the time of sale was

Options

A) ₦48,000

B) ₦42,000

C) ₦36,000

D) ₦24,000

E) ₦12,000

The correct answer is B.


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