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:An asset was bought on 1st January, 1995 for…If a firm has a turnover of N50 000 and the cost of…Rent owing as at 31st December 1998, N800. Rent paid…Rent owing as at 31st December 1998, N800. Rent paid…Williams and Jacob are in partnership but there is…