Jeng Limited disposed of a fixed asset in 1999 for N2,000. The asset was purchased in 1996 at a cost of N10,000 and has been depreciated at the rate of 20% per annum using the straight-line method. What was the book value when the asset was sold? by Sunday | Jun 5 | Accounting WAEC | 0 comments A. N8,000 B. N6,000 C. N4,000 D. N2,000 Correct Answer: Option C C. N4,000 Users Also Read These:An asset was bought on 1st January, 1995 for…Abdul is faced with a choice between buying a new…If a government which owned a company N10,000 in…A fixed asset was bought for N60,000 on 1st January,…The cost of a machine is ₦10,000. The residual value…