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…Calculate the salvage value of a tractor with a…A club received rent N10,000 and donation N30,000.…A motor vehicle bought for N16,000 was estimated to…When a fixed asset is disposed off, the accounting…