A motor car costing D100,000 was depreciated at 20% per annum by the diminishing balance method. Two years later, it was sold for D60,000. Using the informa...

Assessment: WAEC SSCE - Financial Accounting - 2009 (Objective) Subject: Financial Accounting

Question 1 Report

A motor car costing D100,000 was depreciated at 20% per annum by the diminishing balance method. Two years later, it was sold for D60,000. Using the information, the net book value at the time of sales is

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