An asset was bought on 1st January, 1995 for N60,000. Depreciation was provided for annually at 20% on cost. It was sold for N21,000 on 30th October 1998. Depreciation is charged fully in the year of disposal. Profit on sale is? by Sunday | Jun 5 | Accounting WAEC | 0 comments A. N24,000 B. N21,000 C. N18,000 D. N9,000 Correct Answer: Option D D. N9,000 Users Also Read These:A fixed asset was bought for N60,000 on 1st January,…Ola presented his motor-cycle for sale to Musa at a…Rent owing as at 31st December 1998, N800. Rent paid…A fixed asset was bought for N60,000 on 1st January,…Debtors value as at 1st January 2000 was N40,000.…