A fixed asset fully written-down by a trader is now considered to be worth ₦5,000. The double entry required to reflect this is debit?

by | Mar 21 | Accounting WAEC | 0 comments

A. asset account credit purchase account
B. asset account credit capital account
C. capital account credit asset account
D. capital account credit profit and loss account

Correct Answer: Option B

B. asset account credit capital account

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