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,…Williams and Jacob are in partnership but there is…Jeng Limited disposed of a fixed asset in 1999 for…Rent owing as at 31st December 1998, N800. Rent paid…XYZ Ltd's total sales was #100,000. It had opening…