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|Published on: Jun 5|Categories: 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 farmer purchased a sprayer for N12,500 in 1974, at…The cost of goods sold for the year is Le200000 and…Using the straight method. The depreciation of the…A machine cost ₦12,500 will be kept for 4 years and…Using the reducing balance method, the depreciation…SEE ALSO Which of the following is used in locating errors in the ledger?